Skip to content

G7 nations agree on minimum corporate tax to slow the loophole gymnastics

The big economies have agreed that if we can all just hold global corporations to a 15% tax maybe they'll actually pay it.

Seamus Byrne
Seamus Byrne
1 min read
G7 nations agree on minimum corporate tax to slow the loophole gymnastics

In global tax news with big implications for the tech industry's use of clever accounting to dodge paying taxes, the G7 nations have agreed to a minimum corporate tax rate of 15% to build consistency and, with consistency, reduce the incentives to apply complex practices to offshore revenues based on spurious loopholes over where the IP of a company resides.

Companies like Facebook, Google, Apple and many others beyond just the tech world with global product and service empires love to say their intellectual property just happens to 'live' in places with extremely low tax rates or special tax concessions. It's amazing how much inventive work of companies headquartered in Silicon Valley is actually, really, truly thanks to a small office in the Netherlands or Ireland.

No doubt the next wave of loopholes and clever tricks is right around the corner. But actual agreement on actual action is helpful in trying to move this fight forward.


Seamus Byrne Twitter

Founder and Head of Content at Byteside.

Related Posts

Jabra gear converges on a hybrid work audio sweet spot

Not every business accessory maker is getting this hybrid work era right, but it's great to see Jabra is adapting its line up very nicely to the new era.

Jabra Speak2 75 Bluetooth speakerphone sitting on a table next to a laptop

Maintaining a clear sense of the future

In 1999 I completely dismissed the importance of flash memory cards as a storage medium for the future. It taught me big lessons on how to consider a technology's long-term potential.

An advanced robot looks toward a sunset from a mountain above a city skyline.

Saving Twitter from Twitter

There's never been a company with such a wide gap between its cultural impact and its economic success. Maybe a little chaos makes sense right now?

A blue bird sits, watching a younger blue bird play with a stick. There a plates with nuts near them.