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Marketplace All-in-One

Global corporate minimum tax undermined by loopholes, report says

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 23 October 2023

⏱️ 2 minutes

🧾️ Download transcript

Summary

A European think tank says the minimum tax on corporations will generate half of the hoped-for revenue; group also urges new tax on billionaires; Japan launches Google antitrust probe; major companies urge rich countries to ditch fossil fuels by 2035.

Transcript

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0:00.0

This Marketplace Podcast is

0:01.4

is supported by Principal Financial Group.

0:04.4

Facts are facts.

0:06.1

Employees want to feel financially secure in their future.

0:09.7

In fact, according to a 2023 study by principal, 87% of employers say that better employee

0:16.3

financial security means employees are engaged and productive at work.

0:21.7

At principal, they help you invest in your people, and when you take care of your team, they take

0:27.2

care of business.

0:29.1

Learn more at Principal.com slash benefits. Products and services offered by member companies of the

0:34.7

principal financial group Des Moines Iowa for important information visit

0:38.5

principal dot com slash disclosures

0:42.3

dodging taxes on a global disclosures.

0:46.0

Dodging taxes on a global scale. I'm Novasafo with a marketplace minute.

0:48.0

A global minimum tax on corporations is being undermined by loopholes

0:52.0

according to a report from a European

0:53.7

tax policy think tank. The EU Tax Observatory at the Paris School of

0:58.2

Economics says the 15% minimum tax will generate half as much revenue as hoped for because of

1:03.9

modifications over the last two years. Meanwhile the same group is also

1:07.8

urging countries to crack down on tax evasion

1:13.0

tax could raise 250 billion dollars a year or about 2% of the total wealth held by the world's richest people

1:20.8

Yet another antitrust probe of Google this this time from authorities in Japan.

1:24.4

They're investigating Google's search dominance on Android devices.

...

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