Donald Trump may reject the negotiations, but he cannot veto a global effort to make multinational companies answer to governments<\/p>\n
Governments are told that public services must shrink because money is tight. Yet a new Tax Justice Network report<\/a> says that countries could capture an extra $500bn a year without raising corporate tax rates. The answer is to tax multinational profits where real economic activity happens \u2013 known as unitary taxation<\/a>. No new profit is created. Revenue simply shifts from tax havens where profits are \u201cbooked\u201d to the countries where workers produce and customers spend.<\/p>\n Making that principle a global tax standard depends on UN talks opening in New York<\/a> on Monday. Modelled on the UN climate regime, a fiscal framework convention would create the governing body and procedures, with protocols providing detailed rules. The UN wants agreement by late 2027. Donald Trump\u2019s US<\/a> walked out last year and urged others to follow. None did.<\/p>\n Continue reading…<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" Donald Trump may reject the negotiations, but he cannot veto a global effort to make multinational companies answer to governments Governments are told that public services must shrink because money is tight. Yet a new Tax Justice Network report says that countries could capture an extra $500bn a year without raising corporate tax rates. The … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[1],"tags":[],"class_list":["post-76881","post","type-post","status-publish","format-standard","hentry","category-blog"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts\/76881","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/comments?post=76881"}],"version-history":[{"count":0,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/posts\/76881\/revisions"}],"wp:attachment":[{"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/media?parent=76881"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/categories?post=76881"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/news2shorts.com\/index.php\/wp-json\/wp\/v2\/tags?post=76881"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}