https://www.bbc.com/news/business-64004673 While the US is "allegedly" planning to do the same, it is reasonable to conclude that this is likely the end of any innovation coming from Europe for the foreseeable future. This century's big players aren't going to follow the West along their path of self-destruction. With many countries offering better arrangements that allow companies to grow without being ransacked by the State and bureaucratic red-tape, why would you invest in Europe? Their workforce? Just lure them to your new lower-tax jurisdiction. #tech #taxes #eu #corporations
This is actually a good policy for the community, even if it closes tax havens for big business. It will not stop innovation. Innovation is not built on tax avoidance, only wealth inequality is. It'll force companies to pay a fairer share of taxes, and life moves on
The less company pays in taxes, the more it can spend on R&D.
Why is everyone so caught up with corporations and the rich paying their “fair share”? Lets say they pay it, then what? You think any of that tax money will trickle down to you? Or lead to improved government services? Name one government organization that is efficiently run.. Exactly. I’m not a billionaire but I do not advocate raising taxes on the rich. Why? Causes it’s not going to do anything except further enrich corrupt officials in government. The government is just going to waste that money. For example look how much SF city gov “spends” on homelessness. Who knows where that money really went.
Europe does its best to keep only museums and coffee shops for a while. Many large tech companies are already gone. But social security is good. Not clear, however, for how long.
Social security will go as so as USA has to put back its military.
> innovation coming from Europe for the foreseeable future 😂What major innovation came from Europe in last 15 years?
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ASML, the company that provide EUV lithography machine. That every one and their mom (including TSMC) buy chip machine from is located in EU. Literally cannot make next gen chip without their innovation.
“It will apply to companies with at least $1 billion in profits.” As far as I know, those companies (FANGs) suffocates innovation.
We will see how this plays out. But I think the businesses will just pass the cost doing business on to the consumers.
In the long run it's going to be cheaper and more effective for them to move to jurisdictions that aren't as predatory. Especially considering the demographic collapse of Europe, its burgeoning energy crisis and their schlerotic, brezhnevian States
Like where? China can't be trusted and India will tax the shit out of you in addition to that.