What is the Global Minimum Tax?

<p><strong>What is the global minimum tax? Thanks for asking!&nbsp;</strong></p><br><p>At the end of last week, finance ministers from the G7 countries met in London and formally endorsed a global minimum corporate tax rate. Going forward, companies will have to pay a minimum of 15% tax on their profits.</p><br><p>The framework is part of an effort to stop multinationals, and in particular the GAFA companies Google, Amazon, Facebook and Apple, from profit-shifting to tax havens. Tech companies are able to easily move between countries due to the nature of their business.&nbsp;</p><br><p><strong>How will the global minimum tax rule actually work? Why do we need such a tax in the first place? </strong><a href="https://podcasts.ba-ba-bam.com/do-you-really-know/" rel="noopener noreferrer" target="_blank"><strong>In under 3 minutes, we answer your questions!</strong></a></p><br><p><strong>To listen to the last episodes, you can click here:</strong></p><p><a href="https://podcasts.ba-ba-bam.com/do-you-really-know/202106160300-what-sea-snot.html" rel="noopener noreferrer" target="_blank">What is sea snot? </a></p><p><a href="https://podcasts.ba-ba-bam.com/do-you-really-know/202106140300-who-bo-burnham.html" rel="noopener noreferrer" target="_blank">Who is Bo Burnham?</a></p><p><a href="https://podcasts.ba-ba-bam.com/do-you-really-know/202106120300-what-smurfette-principle.html" rel="noopener noreferrer" target="_blank">What is the Smurfette Principle</a></p><br><p>A podcast written and realised by Joseph Chance.</p><br /><hr><p style='color:grey; font-size:0.75em;'> See <a style='color:grey;' target='_blank' rel='noopener noreferrer' href='https://acast.com/privacy'>acast.com/privacy</a> for privacy and opt-out information.</p>