Re:Paradise Papers: Dear Tim Cook
by cm2187 on Wednesday November 08, 2017 @09:08AM
(#15652495)
I think what you are describing is a company not based in the US not having to pay this tax. Effectively companies fleeing the US. Agree that this would likely be a consequence. But that's the price to pay to maintaining high tax rates. Countries don't like competition but the reality is that this competition exists among them.
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I don't think Apple and Google can flee to Bermuda or Ireland and that's not what I was talking about. The employees aren't going to move.
I was just pointing out a simple loophole in the specific rules the you proposed as a rhetorical tool: it's very, very hard to write a loophole free tax code in light of the inherent complexity of having many nation states and multinational corporations. At the very least, it should become a cultural norm for companies like Facebook, Apple and Google to report tax loopholes even as they exploit them.