What was once a pipedream in academic circles, a global minimum corporate tax might soon be a reality that could change the way the world’s biggest companies do business across borders.
The Conference on the Future of the Europe seeks to tackle the long-criticised ‘democratic deficit’ of the European Union with its emphasis on citizen involvement and deliberation via a digital platform launched in April 2021.
The taxation of capital—at both the individual and the corporate level – is much debated and affects economic growth by lowering the incentives to save and invest.
Tax shifts are widespread – often at the expense of the consumer – but governments do not always seem to be aware of the extent of such practice when they introduce new forms of taxation.
In February, the Bank of Spain published its statistics on the Spanish public debt, indicating that state liabilities reached 117.08% of GDP at the end of 2020.