The G20 approves raising taxes on all large technology companies, but surely we will pay it | Industry – Central Valley Business Journal

Soon, technology companies will have a minimum tax in each country where they operate, regardless of the country of their headquarters.
The most powerful governments in the world have needed 30 years to approve what the most basic logic dictates to those of us who do not understand economics: that billionaire companies pay taxes in the countries where they make money.
The story is as old as the world: companies that earn billions in a country, pay 1 or 2% tax … in Luxembourg.
For years we have lived surreal situations of giants like Apple or Microsoft declaring losses in some countries, or profits more typical of a small local company, despite selling millions of products.
The G20 is the group of 20 most industrialized or emerging countries in the world. Spain is represented indirectly through the European Union.
The G20 has met this weekend, carrying out a series of global agreements.
Many of them are never fulfilled or are years delayed, as is happening with everything that has to do with decarbonization and climate change, but at least they throw agreements to the wind, to show that they are good negotiators.
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One of them has been set a minimum tax of 15% on all large technology companies in the countries where they operate.
This means that, despite the platonic love that tech giants have for Ireland or Luxembourg, they will have to pay a minimum of 15% taxes in countries like Spain or Italy.
With this measure it is estimated that renowned brands of Google, Apple, Facebook … Meta, Netflix or Microsoft, they will have to pay an additional $ 150 billion in taxes. Of course, from 2023.
It seems like a huge amount, but it is only 15% of what they earn.
It is a measure of justice, because it is not logical for a company to earn billions in one country and pay its taxes in Luxembourg or Ireland. Because it has been well received by most countries.
Although, as almost always happens in these cases, in the end this tax increase will be paid by us, the clients, in the form of increases in subscription fees or the services offered by these companies.
Voices of pro-equality groups also affirm that it is a limited measure that only affects about 100 companies, and that it hardly brings benefits to poor countries, where they have very little business.
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Copyright © 2017 JNews.

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