June 20, 2021
Technology

Loopholes in G7 tax rules on Big Tech – News

A win-win for everyone — just don’t tell that to Big Tech’s motherlands who miss out on what they deem revenues that should’ve been theirs.

Technology companies have thrived because of innovation and creativity. Unfortunately, those two nouns can also be used to describe how they could, apparently, dodge their tax obligations. One of the most basic rules of business is that expenses must be kept at a minimum, taxes being a big part of those calculations. Remember: Tax evasion is different from tax avoidance, the latter using legal means or being — here goes those words again — innovative and creative to steer clear of having to pay dues under tax codes. It’s not entirely Big Tech’s fault they’ve decided to flee elsewhere to conduct a major part of their business. After all, countries considered as tax havens use this same dynamic to become an…

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