KPMG's Sarson on G7 Corporate Tax Deal

Jun.07 -- Tim Sarson, value chain management partner at KPMG, discusses the impact of the G7's corporate tax deal. He speaks with Bloomberg's Anna Edwards on "Bloomberg Markets: European Open."

[Jay-xrsb]

So, the min corporate tax rate in the G7 is already 15%. The G7 want to force other countries to match them to avoid those countries housing them.

[libertarianspirit]

The only reason why even limited capitalism still exists is not democracy but competition between jurisdictions for companies, talent etc. Once you establish global minimum tax, then there is basically no way to stop it from rising towards 20-30-50-70-90% and finally 100% (full nationalization). In the absence of global competition, democracies will certainly collapse into full scale socialism because mob will always vote for more and more perks from government. It will be the world without private property (remember: "you will own absolutely nothing and be happy"). And your favorite "economists" from leading universities advice banks to issue CBDC where each of your transactions will be monitored directly by the state (remember: "if you have nothing to hide, you have nothing to fear"). And you will live in the pod and eat insects while listening morning lecture about how great your supreme leader. That's wet dream of the mob, a purely democratic paradise. If you think I'm exaggerating, then take a look how countries introduced "minimal" income tax & money printing during WWI and how it skyrocket in next 100 years with no sign of slowing down (may be with little break in 1980s?).

[SudESPORTS]

15% Corporate Tax rate is very less compared to individual person Income tax rates.Globally it should be minimum 25%.Companies belonging to home country setting financial headquarters abroad should not be allowed to do business in the home country.Then and then only every country will be benefitted.