The new corporate tax rules.
Tangle
Isaac Saul
4.8 • 672 Ratings
🗓️ 14 October 2021
⏱️ 27 minutes
🧾️ Download transcript
Summary
Over the weekend, 136 nations officially agreed to enforce a corporate tax rate of at least 15 percent, and also pledged to institute better systems of taxing profits fairly, where they are earned. The agreement, announced by the Organization for Economic Cooperation and Development (OECD), included countries like Ireland that once opposed the deal but now support it. The overarching goal is to address multinational companies that have made a habit out of rerouting their profits through low tax rate countries. The OECD has been leading talks on a plan to institute a minimum rate for a decade.
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Transcript
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| 0:34.7 | From executive producer Isaac Saul, this is Tangle. |
| 0:40.8 | Tangle. |
| 0:40.8 | Good morning, good afternoon and good afternoon and good evening and welcome to the Tangle podcast, a place where you get views from across the political spectrum, some independent thinking without all that hysterical nonsense you find everywhere else. |
| 1:04.6 | I am your host, Isaac Saul. It is Thursday, October 14th. And today, we are going to be talking about the new global corporate tax |
| 1:14.1 | minimum of 15%, which became maybe kind of law, official policy, standard practice. We're |
| 1:23.4 | not really sure what to call it yet, but it's a deal that's been made among 136 countries |
| 1:28.6 | as of this weekend. |
| 1:30.3 | That will probably be finalized in the coming days. |
| 1:33.2 | And we're going to get into the weeds and tell you all about it. |
| 1:35.9 | Before we do, as always, we'll start with the quick hit section. First up, President Joe Biden announced a series of measures in an attempt to address the supply chain bottleneck, |
| 1:56.9 | including opening the Los Angeles port 24 hours a day and seven days a week. |
| 2:02.3 | Number two, at least five people were killed and dozens injured in Beirut during a Hezbo-led protest, |
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