see
url:https://www.telegraph.co.uk/business/2021/04/08/ireland-netherlands-set-suffer-new-biden-tax-plan/
see full article...Interesting side effects of Biden's tax proposals...
Quote<<<
Ireland, the Netherlands and Switzerland are set to be the big losers
under the Biden administration’s plans to link tax revenue from
businesses to local sales.
The US has reportedly proposed a clampdown on companies using certain
countries to avoid paying higher tax as part of its plans for a huge
global shake-up.
The White House has argued that multinational giants should pay taxes to
governments based on their local sales in each country in documents sent
to the OECD, the Financial Times reported.
It is part of the Biden administration’s push for a global minimum
corporate tax rate with European leaders swinging behind the plans in
recent days.
However, the latest proposals from the US could ignite tensions in
Europe as some countries benefit from American companies booking their
profits in the tax havens.
Ireland, the Netherlands, Luxembourg, Switzerland, Singapore and the
Caribbean are the biggest beneficiaries from US companies profit
shifting and using them as tax havens, research indicates. These
countries have been able to undercut others with low rates, allowing
them to generate more tax revenue.
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