How would you feel about paying 15% more for your online goods?

[413x]

Terrible idea, setting minimums across a multitude of countries with significantly different economies prevents us from reducing it to what serves our country best when we need it, just like the minimum 15% EU VAT rate screwed us during covid. And leaves us less able to compete for corporations compared to other countries as history has shown time and again, how about fixing actual tax loopholes and lobbying instead.

Case in point,



Fantastic...

It has to happen otherwise you're going to have one tax haven where all these big corps end up while rest of the world rots

 

[Tone1979]

I'd rather the bricks and mortar shops die tbh :_

why?

What would you put in their place?

 

[Energize]

How does EU min VAT rate screw us during Covid? Our rate is 20% and we're not in the EU any more?

We tried to help the restaurant industry as part of "eat out to help out" by reducing VAT on dining services, however we were limited to reducing VAT to 15% which hindered the effort.

The same arguments for setting the stupid minimum VAT rate are now being applied to corporation tax.

This is more likely to produce tax havens as countries outside the G7 will offer low rates to attract corporations there, it's counter productive.

 

[robfosters]

why?

What would you put in their place?

More grubby takeaway joints, betting shops and Turkish barbers, all interspersed with the odd Poundland

 

[Surveyor]

We tried to help the restaurant industry as part of "eat out to help out" by reducing VAT on dining services, however we were limited to reducing VAT to 15% which hindered the effort.

The same arguments for setting the stupid minimum VAT rate are now being applied to corporation tax.

This is more likely to produce tax havens as countries outside the G7 will offer low rates to attract corporations there, it's counter productive.

VAT: reduced rate for hospitality, holiday accommodation and attractions

VAT was reduced to 5% from 15 July 2020 to 30 September 2021 and is currently 12.5% (1 October 2021 until 31 March 2022).

 

[GR63]

VAT: reduced rate for hospitality, holiday accommodation and attractions

VAT was reduced to 5% from 15 July 2020 to 30 September 2021 and is currently 12.5% (1 October 2021 until 31 March 2022).

rather contradicts Energize above... I believe Surveyor since we left the EU

 

[fez]

This is more likely to produce tax havens as countries outside the G7 will offer low rates to attract corporations there, it's counter productive.

If all the big players are behind this then corporations will pay it. If the US/UK/China/EU etc all make it very clear that they will fine google et al into the ground if they avoid paying tax then they will pay it.

 

[Tefal]

why?

What would you put in their place?

Because I don't use them much and I don't want to pay an extra 15% on online goods?

What ever you like?

 

[Tefal]

If all the big players are behind this then corporations will pay it. If the US/UK/China/EU etc all make it very clear that they will fine google et al into the ground if they avoid paying tax then they will pay it.

But they won't be able to fine them will they?

They're all just aggrieved to set the rate at at least 15% so they can't be tax havens like luxemburg/Ireland.

Companies will still be able to make a loss in the 15% countries and a profit in others there will just be less others.