Business
How would a global minimum tax work and why is it needed? – The Guardian
The Biden administration wants to end profit-shifting to tax havens by big tech firms and other multinationals
Why is a global minimum tax required?
Tax systems around the world have been increasingly left behind in recent years by the rise of globalisation and digital media companies such as Google, Amazon, Apple and Facebook. They are firms operating across international borders that can shift profits around to exploit the most attractive low-tax locations.
Tax abuse by multinationals and avoidance by rich individuals costs countries around the world $427bn a year in lost revenues, according to research…
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