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A comment on Global minimum corporate tax: 130 nations to support U.S. proposal. Parent comment

Re:Global minimum corporate tax: 130 nations to support U.S.... by realityking on Thursday July 01, 2021 @05:24PM (#27705064)
I’m neither a lawyer nor an accountant but I’d expect it to run counter to all existing double taxation agreements. All those agreement would have to be cancelled or renegotiated - that’s a lot of work.
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Re:Global minimum corporate tax: 130 nations to support U.S.... by eecc on Thursday July 01, 2021 @05:53PM (#27705367)
Why? The parent suggested to discount the tax paid abroad from the taxes to be paid in the US. It is the double-taxation prevention agreement.

Me being a cynical bastard will expect countries rallying to offer themselves to the US and reduce their cut to buy political favor.

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Re:Global minimum corporate tax: 130 nations to support U.S.... by realityking on Sunday July 04, 2021 @04:55AM (#27728217)
Double taxation agreements describe rules to assign the taxation of an activity to a jurisdiction. The other jurisdiction can then no longer tax that activity.

With your proposal you do end up taxing it twice, just at a reduced rate. As I understand it, that would require changes to double taxation agreements.

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