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Will tech giants be taxed for worldwide profits with a global tax rate?
Get insights on the latest news about emerging trends in cyberspace from Marietje Schaake, International Policy Director at Stanford University's Cyber Policy Center and former European Parliamentarian:
Today, we talk about the "T word", as I often refer to: taxation. But that taboo is finally broken in the United States.
How would a global minimum corporate tax rate, like the one Janet Yellen has called for, affect Big Tech?
Now, ideally, it would ensure a level playing field for all companies, and European leaders embrace the US change of course, but they did add that there should be ways to tax tech giants for their global profits. It's a demand that is widely shared in Europe. So the hope is that that can be arranged between all OECD members.
What has been Silicon Valley's reaction so far?
I haven't heard so much from Silicon Valley, so perhaps they're lobbying US leaders behind the scenes, more so than publicly. But it does look like the US government needs to compromise on that digital tax question to get their global minimum corporate tax rate done at all.
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