Re:G7: Rich nations back deal to tax multinationals
by fighterpilot on Saturday June 05, 2021 @01:26PM
(#27406918)
How would this work for a business in Hungary with 10 employees, no location elsewhere, who has sizeable US business?
That's the whole point of this agreement, it doesn't matter what Hungary does. I mean, if a business wants to only sell in Hungary, sure, but what this agreement does is prohibit multinationals that want to sell in any of these G7 nations from cooking up the corporate fiction where a company is "headquartered" in a low tax jurisdiction, and then the "real" company pays all of their income to this shell corp in "licensing fees".