U.S. Treasury Secretary Janet Yellen signaled the United States is dropping a key provision that once stood in the way of a global digital tax. This just opened the door to a likely agreement.
The announcement was made at the G20, which consists of the nations that make up the twenty largest economies in the world. You should know, Yellen is the former Federal Reserve Chairwoman. The private Federal Reserve, notice how our “officials” bounce from one office to the next.
Here are some details.
The Organization for Economic Cooperation and Development has been working on a multilateral agreement that would include a global minimum corporate tax rate on tech giants.
The aim is to find a common solution to address the policy dilemma of how to tax profits earned in one country by a company headquartered in another that offers more favorable tax treatment.
Yahoo
The excuse is nations need to be able to tax tech giants as the internet has no borders. This is yet another step to erase borders altogether. The internet has been around for a very long time, it was never a problem before, but it is now.
The precedent for this was set many years ago now. At one time in America, making an online purchase was tax free. Then came government, and each state decided they wanted a piece of the sales tax action.
The global community of nations is no different. They want their piece of tech profits, more importantly, they want more control over our world. Slowly but surely, we see globalization continue to become larger and more tied together.
How about some more details on this new development…
French Economy Minister Bruno Le Maire said a deal should be reached by summer, calling for negotiations to be “concluded without delay.”
Within months, we could have the world’s first digital tax. This will certainly end up coming out of our pockets as big tech will find a way to pass on the tax to us. It always works that way.
Little by little, day by day, our world becomes tied more closely together which is making Bible prophecy come to life.