Germany Urges Global Minimum Tax For Digital Giants (yahoo.com)

Germany is backing a global minimum tax rate as Europe looks to levy tax notably on U.S. tech giants. "Europe is trying to devise a strategy to tax profits from the likes of Google, Amazon, Facebook, Apple and digital platforms such as YouTube and Airbnb which currently manage to keep fiscal exposure to a bare minimum," reports Yahoo News. From the report: "We need a minimum tax rate valid globally which no state can get out of (applying)," Scholz, a social democrat in conservative Chancellor Angela Merkel's coalition government, told the "Welt am Sonntag" weekly. Digital platforms "aggravate a problem which we know well from globalization and which we are trying to counter -- the shifting of profits to fiscally beneficial regions," said Scholz. Scholz explained he had launched an initiative designed to help states react to so-called fiscal dumping in support of embryonic OECD plans designed to fight tax transparency and cross-border tax evasion. "We require coordinated mechanisms which prevent the displacement of revenues to tax havens," said Scholz. A March proposal by the Commission includes introducing a tax as a bridge measure until such time as the OECD can roll out a measure which can be applied globally.

Comments

First you need to understand what is going on

[OMG]

Please, do understand what "Double Irish" means concerning taxes:

https://en.wikipedia.org/wiki/...

Double Irish:

        Adobe Systems
        Airbnb
        Apple Inc.
        Facebook
        General Electric
        Google
        IBM
        Microsoft
        Oracle Corp.
        Pfizer Inc.
        Starbucks
        Yahoo! ...

Re:Wasn't that the point of the EU

[Anonymous Coward]

No, it was to prevent another major European war by ensuring that the major European powers would be too economically dependent on each other to risk fighting each other.