U.S. tech companies are urging the OECD to urge the G20 to not close “tax loopholes”.
The G20 tax reform project was announced last summer, billed as the “once in a century” opportunity to overhaul the global tax system. While the work has the backing of all G20 nations, it has been most enthusiastically championed by France, with strong backing from Britain and Germany. America’s support has been conspicuously lukewarm.
To be honest, I straddle the fence on this. As a global citizen and entrepreneur, I generally am in favour of any moves toward global unification. On the other hand, as an entrepreneur, global or otherwise, taxes are already difficult enough and I don’t necessarily want governments coordinating to make it more expensive and difficult to run a business.