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BBCNEWS Dateline London June 4, 2024 10:33:00

The companies that will end up paying more tax as a result of the global corporate tax deal on the agenda for the finance ministers of the countries which form the 620 meeting in venice this weekend, may lack representation, but they have had the money to fund a skilled lobbying operation to try to influence the shape of this reform. you may not feel much sympathy for them or indeed for caribbean tax havens, but should we be more concerned about the impact on the poorer nations? simon, explain to me exactly what this proposed deal is. there are two pillars to this. the first one is new rules to force companies to pay taxes on the sales and profits they generate in the countries in which they operate, even if they don t have physical operations there. this clearly targets the digital services companies, the googles of this world, who basically make enormous profits and sales in countries where they don t necessarily have a massive physical presence. that s part one. part two is a global ....

Finance Ministers , Mary Simon , Lobbying Operation , Caribbean Tax Havens , Tax Rate ,

BBCNEWS Dateline London June 4, 2024 10:34:00

On the poorer nations. simon, explain to me exactly what this proposed deal is. there are two pillars to this. the first one are new rules to force companies to pay taxes on the sales and profits they generate in the countries in which they operate, even if they don t have physical operations there. this clearly targets the digital services companies, the googles of this world, who basically make enormous profits and sales in countries where they don t necessarily have a massive physical presence. that is part one. part two is a global minimum tax rate, which was agreed at the g7 and ratified at the g20, of at least 15%. us and france would like to see it higher, other countries would like to see it lower, but at least 15%. what that would do is reduce the incentive for companies to shift profits around the world to low tax jurisdictions, where they can deprive what people see of their native countries ....

Mary Simon , Tax Rate , United States ,

FOXNEWS The Story With Martha MacCallum June 4, 2024 19:49:00

It s the small people that democrats say they try to help. they have a funny way of showing it. the small businesses will be out of work while the apples and googles will still be in business. martha: you saw president biden the other day. pay them more. yeah. he let the truth out. one of the reasons why they re not dumb in the white house. they real like this is making it tough for businesses. you saw biden say pay them more. the problem is, small businesses can t pay them more. minimum wage is more important feel that have other sources of income, two or three jobs or they re living at home. a lot of them are teenage kids. they ll have trouble once the benefits are go, imagine the trouble that teenagers trying to get their first leg up in the business world they won t find jobs. martha: there s a gentleman named jerry acres that owns 29 ....

Joe Biden , White House , Minimum Wage , There Sa Gentleman Named Jerry Acres , Business World ,

Detailed text transcripts for TV channel - BBCNEWS - 20210614:02:37:00

It is the rate, so if it is 12.5%, it 512.5%,| not under 1%, for example. that has always been - the problem the sweetheart deals with the googles - and the apples and the big tech companies that has - happened over the years. in fact, there is still an outstanding issue of 13 billion in back taxl which is due to the irish government which hasn t actually been sent back i to the irish government yet via the eu, so- that is still to be worked through. it is going to take some time. but paschal donohoe, - as you say, he s been doing the rounds and his argument is that he is not worried - about getting foreign direct investment into ireland, i but he does feel - and this is the majority, how the coalition irish - government feel that ireland ....

Tech Companies , Sweetheart Deals , 512 5 , 12 5 , 13 Billion , Paschal Donohoe , European Union , Northern Ireland , Doesnt Have Heavy Industry ,

Detailed text transcripts for TV channel - BBCNEWS - 20210613:01:36:00

The problem, the sweetheart deals with the googles - and the apples and the big tech companies that has| happened over the years and that there is still an outstanding issuej of 13 billion in back taxl which is due to the irish government, which hasn t actually been sent back i to the irish government yet via the eu, so. i that is still to be worked through. | it is going to take some time, but paschal donohoe, - as you say, has been doing i the rounds, and his argument is that he is not worried - about getting foreign direct investment into ireland, but it does feel - and this is the majority, how the coalition irish l government feel that ireland doesn t have heavy industry. l france does, germany has. ireland has. it was an agrarian economy after the foundation - ....

Tech Companies , Hasn T , Sweetheart Deals , 13 Billion , Northern Ireland , Paschal Donohoe , Coalition Irish L , Doesnt Have Heavy Industry ,