Quote from: Sithara007 on Today at 04:00:17 AM

Quote from: jaysabi on July 04, 2021, 05:10:13 AM

Ireland’s tax agreements with multi-national companies have been ruled by the court’s to violate EU laws in the past, so Ireland I think is an outlier. 130 countries signed on, there is clearly broad international support. Ireland even agreed in principle, they just think 15% minimum is too high, but their entire pitch to multi-nationals is as a tax haven. If they join a minimum tax pact, there’s no real reason to HQ in Ireland anymore.

LOL.. so around 130 out of approx. 200 countries signed up for this? It doesn't surprise me. Countries with high rates of corporate taxes will sign up, since it benefits them. On the other hand, tax havens (such as the Caribbean islands and gulf nations) would ignore this initiative, as it affects their revenues. In the end, the stalemate and status quo will persist. If Ireland agrees to this measure, then the companies will just relocate to some other tax haven, such as Luxembourg, Malta or San Marino. How much time it takes to shift HQ from one country to another?

Bermuda and the Cayman Islands are both signatories on the agreement, and Luxembourg's corporate tax rate is already higher than the proposed minimum in the agreement, so I reckon they would sign as well (though can't find definitively if they have already). The 130 countries that have already signed represent 90% of global GDP, so yeah, my previous point stands unrefuted after your inaccurate post.