Ah ok, I understand. Sigh ... yeah, after the shit Ireland pulled, I guess this is the only choice left. (Ireland signing TWO agreements to apply minimum tax one with OECD, one with the EU, with the prime minister announcing wide and far on TV how important this tax was, while telling accountants they weren't going to do it, then not doing it)
On the plus side: this is going to suck bad for Ireland, and frankly they have it coming.
So it is effectively decided then, even if probably a lot of politicians still need to wake up to it, the next move is the EU taxing payments directly when they cross EU borders, contradicting half the reason the EU exists in the first place, and probably in a system that'll make EU VAT look simple. It's going to be a disaster, but not easy to exploit ... It'll take the power to tax further away from the EU and even further into the countries' own tax departments, but of course that's exactly what's needed to stop this.
And the years it'll take to do that will mean multinationals get a few more years of minimally taxed profits.
On the plus side: this is going to suck bad for Ireland, and frankly they have it coming.
So it is effectively decided then, even if probably a lot of politicians still need to wake up to it, the next move is the EU taxing payments directly when they cross EU borders, contradicting half the reason the EU exists in the first place, and probably in a system that'll make EU VAT look simple. It's going to be a disaster, but not easy to exploit ... It'll take the power to tax further away from the EU and even further into the countries' own tax departments, but of course that's exactly what's needed to stop this.
And the years it'll take to do that will mean multinationals get a few more years of minimally taxed profits.