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Old 02.07.2021, 12:46
LtSoftDrink LtSoftDrink is offline
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Re: Are tax havens doomed?

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Of those 130 countries almost all have corporation tax above 15% so I don't see any major change. Since any profits are stuck in the tax haven there is a lot more noise than reality here.
I would suggest that the main problem is the currently accepted holding company structure of classic multinationals being allowed to “freely” transfer a specific country’s profit to their home base and receive preferential treatment there. Under a somewhat fairer tax regime, all countries would have to apply the same rate at source before any after tax profit could be transferred. Clearly, local issues like high level corruption are not touched by such idealistic measures.
My understanding of the current "noise" is that the big tech companies have perfected the art of tax avoidance to such a high degree that even countries which were previously happy with the arrangements with MN are beginning to question the accepted wisdom.
Don’t think that profits are stuck in tax havens forever
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