Sol Picciotto

307 posts

Sol Picciotto

Sol Picciotto

@SolPicciotto

retired but still a scourge of corporate capitalism

Katılım Şubat 2013
188 Takip Edilen1.2K Takipçiler
Sol Picciotto
Sol Picciotto@SolPicciotto·
@RasmiRDas This hits the nail on the head! The DMTT does nothing to help countries which lose from profit shifting, a simple minimum tax is a much better solution
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Rasmi Ranjan Das
Rasmi Ranjan Das@RasmiRDas·
I understand QDMTT for "investment hubs", but not why some developing countries are going for it instead of a simple across the board minimum tax. I am equally surprised by the advice of some leading multilateral institutions to developing countries to go for QDMTT.
Taxsutra.com@Taxsutra

Mr. Rasmi Ranjan Das (Joint Secretary (FT & TR), Ministry of Finance) @ 6th #TaxsutraConclave2023 : "For a typical developing countries, a normal minimum tax is better than going for QDMTT..STTR is now virtually part of the #UNModel, public consultation on it is expected soon

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Sol Picciotto
Sol Picciotto@SolPicciotto·
@D_Langenmayr @JudithFreedman @EEberhartinger @surethsloane @wwwojtekk @DanNeidle @iaincampbell07 @InternationlTax @taxobservatory @MargitSchratz @AusTaxProf @M_SullivanTax @DebbiSchanz @HannoKube @AlfonsJ64 @Lars_Feld though the econometrics is beyond me this tells a convincing story, UK abandonment of CFC rules 2009 increased profit shifting out of UK, US tried to forestall this in 2017 with GILTI, but strong global minimum tax clearly needed
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Dominika Langenmayr
Dominika Langenmayr@D_Langenmayr·
🚨Publication alert! 🚨 Many countries recently introduced territorial tax systems, instead of taxing worldwide profits. Li Liu and I show that this shift in the corporate tax system leads to more tax avoidance. Full paper now in @JPubEcon: authors.elsevier.com/c/1gHlaAlw9pMzv Thread 👇
Dominika Langenmayr tweet mediaDominika Langenmayr tweet media
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Sol Picciotto
Sol Picciotto@SolPicciotto·
@JohanLangerock Enhanced cooperation is not necessary, any willing states can adopt the GLOBE, and if they base their measures on the Directive -- and if they take serious steps to do so, the Hungarian government will find a reason to accept the Directive
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Sol Picciotto
Sol Picciotto@SolPicciotto·
@EUCourtPress There needs to be a strong political response to the Court, but one which also can deal with its legalistic objections about the need for "a proper balance" between the objectives (which it accepted as valid) and the safeguarding of personal data
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Sol Picciotto
Sol Picciotto@SolPicciotto·
@JudithFreedman @HeavyMetalTax It's just that state aids is the only instrument they have that doesn't need agreement by member states, especially unanimity. That's how change works in the EU.
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Sol Picciotto
Sol Picciotto@SolPicciotto·
@JudithFreedman @HeavyMetalTax I don't think it can be said that the Commission has not been trying to reform EU tax law, they have been at it since the Ruding Commission, and have made enormous changes in the past few years.
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Judith Freedman
Judith Freedman@JudithFreedman·
What a waste of time and money these state aid cases have been.
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Sol Picciotto
Sol Picciotto@SolPicciotto·
@DanNeidle @GeorgeDibb While you're right to point to revenues rather than rates, Dan, that's also not the whole story - you should look at corporate tax revenues in relation to profits, which have been rising more steeply, partly due to increased incorporation to take advantage of the lower CIT rate
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Dan Neidle
Dan Neidle@DanNeidle·
@GeorgeDibb They like the myth that UK corporate tax has been cut - suits them politically. As do many on the Left, for the same reason. But, inconveniently, it hasn’t been.
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Dan Neidle
Dan Neidle@DanNeidle·
This is a terrible, no good, horrible, very bad chart from the IPPR. The red line showing UK corporate tax falling is misleading. Here's why.
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Sol Picciotto
Sol Picciotto@SolPicciotto·
@JohanLangerock This is long overdue, good to see Germany finally taking a lead and bringing the other key EU states along, too many compromises have already been made on this tax
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Johan Bernardo Langerock
Johan Bernardo Langerock@JohanLangerock·
After the written statement now also an in-person one! Important to put the full weight on this issue.👏 From a #tax perspective these are not random countries! The 5 most important economies are standing there, meaning most EU home-based MNEs will already be covered.
Germany in the EU@germanyintheeu

#GlobalMinimumTax: The finance ministers of Germany, France, Italy, Spain and the Netherlands reaffirmed their commitment to swiftly implement the global minimum effective corporate taxation in Prague today. Here's @BMF_Bund Minister @c_lindner's part of the joint statement:

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Sol Picciotto
Sol Picciotto@SolPicciotto·
@JohanLangerock Excellent news -- in fact, I think it would be better if Germany went ahead, perhaps with some other like-minded states, they could devise a stronger minimum tax
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Johan Bernardo Langerock
Johan Bernardo Langerock@JohanLangerock·
🔴 Breaking #tax news! Germany moving ahead with unilateral implementation of the global minimum tax. It will no longer wait for #Hungary to lift its veto at #ECOFIN level. A strong and important signal. Hungary might as well lift its veto now at the October ecofin!
Sven Giegold@sven_giegold

Beim #Entlastungspaket verbirgt sich Wichtiges im Kleingedruckten. Nr. 17: Die Bundesregierung wird mit der global vereinbarten Mindestbesteuerung für Unternehmensgewinne nun national beginnen. Der unversteuerte Abfluss von Gewinnen in Steueroasen wird damit gestoppt. Endlich!

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Sol Picciotto
Sol Picciotto@SolPicciotto·
@DanNeidle you could also look at it the other way around, the laxity of Companies House enables cowboys to run crappy businesses by dodging tax
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Dan Neidle
Dan Neidle@DanNeidle·
All cements my view there is not some grand criminal conspiracy here (e.g. money laundering). Just a series of crappy businesses that take advantage of discounted rents to set up in prominent locations, and proceed to defraud customers, councils and the taxman.
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Sol Picciotto
Sol Picciotto@SolPicciotto·
@icrict @phdskat @OECDtax It's interesting that the G24 feels it has to publish its comments as a contribution to the public consultation on the Secretariat draft
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Barry C Smith
Barry C Smith@smithbarryc·
Interesting experiment @Mugaritz where Jordi Bross & team do not feature sugar, salt, umami but concentrate on fats and proteins, rice molds and herbs. Textures and tastes of bitterness, coffee as a flavour enhancer. Challenging eating, excellent wines. Lingers long in the mind
Barry C Smith tweet mediaBarry C Smith tweet mediaBarry C Smith tweet mediaBarry C Smith tweet media
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Keşfet

@ICTDTax @openDemocracy @TaxJusticeUK @RasmiRDas @abdulmc @D_Langenmayr @JudithFreedman @wwwojtekk