Efforts to tax wealthy and tech giants stalled under Trump

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President Donald Trump is undergoing reform of the United States under the United States under President Donald Trump in global tax projects targeting billionaires and multinational companies.

Billionaire real estate tycoon has pulled the United States from an international agreement on taxing multinationals and threatened taxes on countries targeting US -tech giants.

Take a look at the state of the game here:

Big tech tax

Countries have accused Amazon, Microsoft, Google owner Alfbit and Facebook’s main company Metaa of stopping local taxes.

On February 21, Trump issued a warning to countries that will penalize or tax the Big Tech and other US companies that are “discriminatory, non -proportional” or designed to transfer funds to local companies.

“My administration will impose prices and will take other responsible steps to reduce the damage to the United States,” he said in the memo.

Taxing the tax on digital services causes the move to spread between Washington and its allies.

During his first term, Trump threatened that France had threatened to slap prices on US imports of shampoo and French cheese after launching a digital services tax in 2019.

Since then, seven other countries have followed France’s lead.

The tax created 780 million euros (788 million) for the French government last year.

Now the European Union is threatening to impose a tax on digital services if talks on Trump’s 20 % tax on EU goods fail.

The UK, which is hoping to attack a trade deal with the United States, may re -consider its digital levy, which currently brings $ 800 million annually.

British Trade Secretary Jonathan Reynolds has said that digital tax is “not something that can never change or we can never talk about it”.

World Corporate Tax

In 2021, about 140 140 countries signed an agreement to tax multinational companies, which was discussed by the organization for economic cooperation and development.

There are two “pillars” in the OECD deal.

First of all, the taxation of companies in countries where they make their profit, the move aims to restrict tax evasion. It basically targets tech giants.

The pillar, which sets the minimum global rate of 15 %, has been adopted by about 60 economies, including Brazil, the UK, Canada, the European Union, Switzerland and Japan.

Daniel Bin, the head of the Tax Foundation, who is a US non -profit think tank, said negotiations on the implementation of the first pillar have been “stopped for some time”, even under Biden’s presidency.

Franco American economist Gabriel Zukman told AFP that the European Union’s reaction would be “important” in the coming weeks.

“If the European Union and other countries defeated and allowed US multinationals to be exempt, it would unfortunately magical to end this important deal,” he said.

Tax to the rich

The world’s most stories are also stopping efforts to tax.

Brazil used its time as the Chair of the G20 to emphasize the plan to impose a minimum tax of 2 % on the total value of assets worth more than $ 1 billion, which accumulates up to $ 250 billion per year.

The Biden administration emphasized the plan and is unlikely that it supports a billionaire and tax deductions with Trump in the White House.

According to Forbes Magazine, about one -third of the world’s billionaires are from the United States – more combined with China, India and Germany.

At a recent conference in Paris, French economist Thomas Paytty said the world could not wait for the G20 to agree.

“We need to implement individual countries as soon as possible,” he said.

“History shows that once you have two countries that adopt a certain type of reform, especially in powerful countries, it becomes a new standard.”