G7 agree to back 15% global minimum corporate tax rate, more taxes for tech giants

The Group of Seven wealthy democracies agreed Saturday to support a global minimum corporate tax rate of at least 15% in order to deter multinational companies from avoiding taxes by stashing profits in low-rate countries.

Read more at: https://www.usatoday.com/story/money/taxes/2021/06/05/g-7-nations-support-15-global-minimum-tax-corporations-tech-giants/7560398002/

The Netherlands: Dutch government under fire over tax cuts favoring big business - by Bart H. Meijer &Toby Sterling

Mark Rutte copies Trump's
Tax Proposals favoring corporations

The new Dutch government came under fire in parliament on Thursday, November 8, for scrapping a 15 percent dividend withholding tax, after a national broadcaster NOS said Shell, Unilever, Akzo Nobel and Philips had lobbied for the change.

Shell confirmed to Reuters it had sought the change, while Philips denied it.

Akzo Nobel declined to comment. Unilever would not say whether it asked for the change but it “welcomes measures that improve the business climate in countries where we operate.”

Prime Minister Mark Rutte has said the policy will help the country retain its appeal to foreign investors as it cuts other tax perks in response to concerns that Dutch tax policies have helped multinationals avoid paying fair taxes.

Note EU-Digest: Dutch PM Rutte (Conservative) seems to have copied the new US Tax proposals from the Trump Administration, favoring Corporations above the average taxpayers. To make matters worse Dutch tax payers will now pay 9% instead of 6% Vat Tax, on products they buy in the store and super markets. And like Trump, he has also increased the military budget. One should question if PM Rutte is aware that he lives in the Netherlands (EU) and not in the US.?

Rutte's government is also cutting its corporate tax rate to 21 percent from 25 percent.

Read more: Dutch government under fire over tax cut favoured by big business