What is the global minimum corporate tax? | CNBC International

The G-7 nations have taken a major step toward global tax reform by agreeing to a minimum corporate tax rate of 15% on multinational companies. CNBC's Tom Chitty is joined by Silvia Amaro to explain.

Contents of this video:
0:00 - Intro
1:00 - Revenue vs Tax
2:40 - Why big businesses aren't paying more tax
3:05 - How a global tax affects big business
3:31 - Corporate profit shifting
4:01 - The race to the bottom
5:02 - Tax havens
5:30 - Taxes vs profits
6:25 - Global taxes vs Digital taxes
7:26 - Opposition to the deal
8:08 - What would happen if it passed?

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[exhaustion]

There's zero necessity for the coin-in-the-jar part.

[kevintartis]

Comparing company REVENUE to taxes paid is bias. Very ideological at best. We tax on profits. If a company didn't make a profit you can't tax revenue. it's also understand by economist. Corporate taxes fall on consumers and workers.

[retnavybrat]

Here in the US, as long as our tax code allows for various deductions, write-offs, and the like, it won't matter what the tax rate on individuals or businesses is.

[FinancialShinanigan]

That coin intro was the weirdest flirting I've seen.

[roseroses]

So, we end up with either companies moving out of the country so we lose jobs and tax revenue, or we have companies staying and hiking up prices so we pay more for items we need. I don't see the win anywhere in that.

[xXIronSwanXx]

So the US has the audacity to have dual citizens who were born in the US and now live in a different country report their income abroad and tax them but do not do this for companies that were founded in the US?

[jamesyes]

This only benifits rich and powerful countries so Basically the rich countries will do an average corporate rate tax for all countries
So these small countries like bahamas, malta, Ireland, cayman Island and many more will lose tax moneys from companies that is under their tax rate so these big companies will go back again to their perspective countries and the country that onced had small tax rate will not prosper the same way like before

[chadwaynebradley]

When will they get a clue? Companies NEVER truly pay tax - people do. Corporate Tax rates should just go to zero. It will save companies money on accountants, attorneys, lobbyists, and payoffs...and ultimately all of us would pay LESS tax since we are the ones who truly pay all the tax anyway.

[frostystallie]

Rich countries benefit while the country that need the revenue from attracting business with low taxes are going to suffer.

[floridaman__]

yes thank god....the first real blow to reaganomics

[abaqus]

A country should just tax every transaction made with that country’s currency.

[saulgoodman]

Corporate tax are tax on income, income deductions and write off, and roll over previous loses.
There's a different between tax rates and your effective tax.
Any tax economist would tell you that.

[KINGKING]

These guys will Never learn. This will not change anything. It doesn’t matter what rate you change it to, it could be 90%. 90% of Zero Profit is STILL ZERO!

[smanasalam]

Please cover Base Erosion and Profit Sharing BEPS in one of your documentaries! The effective tax rate in Ireland can be as low as 0.15%!

[jamespowers]

What will be done with the revenue collected by this global tax system? Who collects the money 💰? Who will oversee this process? All questions not ask...

[teoable]

PAY TAX WHERE THEY OPERATE
NOT WHERE THEIR HQS ARE

[elizabethgomes]

Muito competente, minha linda Sílvia Amaro.
Granse jornalista, beijinhos 😘💖

[zetajolyne]

The collapse of empires often stems from the failure of the tax base.
The last emperor of the Ming Dynasty, Chongzhen, had asked his ministers, local officials and royal relatives to provide him with military expenses, but almost no one responded. When the peasant uprising army broke through the city of Beijing, the treasuries of officers‘ houses were jaw-dropping. The number of silver ingots, alone, was counted in millions.
Then, when the Qing army made slaughtering in the south, the wealths and grains storages they robbed from the big landlords and merchants was even greater than that of the ministers in Beijing.

[Swede.from.Boston]

First will they tax the corporation with 15% global minimum tax.
Then they will tax every income with 15% global minimum tax.

[abhiram]

No need to increase taxes just kit gov expenses like stop spending on military close military and spend them on people and saving earth we no more need military we need to develop science to protect ourself the new era has came we should unite to save ourself now.