S Picciotto
For a Better GLOBE: A Minimum Effective Tax Rate for Multinationals
Picciotto, S; Kadet, J; Cobham, A; Faccio, Tommaso; Garcia-Bernardo, J; Jansky, P
Authors
Abstract
This article suggests a variant on the proposal for a global anti-base erosion tax (GloBE), which is more equitable, far less complex, and more practical, as it could be introduced by a coalition of willing states.
TEXT
The international efforts to reform taxation of multinational enterprises (MNEs) have reached a critical turning point. The current proposals to stem profit-shifting provide elements for a way forward, but the overall package is complex and could only be implemented through a universally adopted multilateral tax convention, which is highly improbable. We propose a variation of the key proposal for a global anti-base erosion tax (GloBE), which is more equitable, far less complex, and could be introduced by a coalition of willing states.
Launched after the great financial crash a decade ago, and following the explosion in profit shifting that took place from the 1990s onwards, an effective outcome for this initiative is now even more urgent as the world economy is plunged into a new crisis sparked by the global pandemic. The introduction of country-by-country reporting (CbCR) for MNEs has given tax authorities unprecedented insights into profit shifting as it affects their tax bases; and the publication of limited, aggregate data has shown the global scale of the problem to exceed US$1 trillion each year in tax losses. Yet these attempts to reform international rules designed a century ago have created a logjam, due mainly to the perceived need to achieve an illusory worldwide consensus among states.
Citation
Picciotto, S., Kadet, J., Cobham, A., Faccio, T., Garcia-Bernardo, J., & Jansky, P. (2021). For a Better GLOBE: A Minimum Effective Tax Rate for Multinationals. Tax Notes International,
Journal Article Type | Article |
---|---|
Acceptance Date | Feb 15, 2021 |
Online Publication Date | Feb 15, 2021 |
Publication Date | Feb 15, 2021 |
Deposit Date | May 19, 2021 |
Print ISSN | 1048-3306 |
Publisher | Tax Analysts |
Peer Reviewed | Peer Reviewed |
Public URL | https://nottingham-repository.worktribe.com/output/5560870 |
You might also like
Taxing Multinationals: A Fundamental Shift Is Under Way
(2021)
Journal Article
Profit-split method: time for countries to apply a standardized approach
(2018)
Journal Article
Downloadable Citations
About Repository@Nottingham
Administrator e-mail: digital-library-support@nottingham.ac.uk
This application uses the following open-source libraries:
SheetJS Community Edition
Apache License Version 2.0 (http://www.apache.org/licenses/)
PDF.js
Apache License Version 2.0 (http://www.apache.org/licenses/)
Font Awesome
SIL OFL 1.1 (http://scripts.sil.org/OFL)
MIT License (http://opensource.org/licenses/mit-license.html)
CC BY 3.0 ( http://creativecommons.org/licenses/by/3.0/)
Powered by Worktribe © 2024
Advanced Search