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Taxation, the most boring #rp17 talk

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and if we think that the he and I
and the types that object not this I would make
my part really quick so I hope it won't be boring that us we of
different backgrounds of what unites us is
be basically us that it together and they will give a quick intro and what is the status quo or how much money is actually paid in Texas and
Marx's economist at Harvard University will talk about reform proposals that such policies stuff would would have to be changed and that a farm the modeling again of talks about what needs to be done to change that to use the police's stuff so how we got here in the hall studied in the in the University of Economics that every living now analyzes of all mad because basically this issue of is not paying taxes from corporations is of ideas you that's not locally in Austria or Germany you and how did I get into the topic of like
2011 reading an article about exon mobile exome was like the 6th largest company in the world by market revenue and market cap and that basically will static evolves
of like 1 employee working on a salary 444 thousand euros and making in 2 years 9 . 9 billion net profit animals like I wanna have the job because that's basically the where the guy is a equal to
figure that out but that's like the stuff of capitalism so whatever money you pay him he makes that more than 100 thousand out of it that's even Warren Buffett or Bill Gates well whoever is pretty much like a loser compared to this John Doe from Spain and like would
be great job so the take away from my trick presentation will be like a lot of operations are not paying a lot of Texas and the popular model tho the GermaNet set up some of them really huge amount of money and the famous book there's like a billion years linear
pretty soon you're talking about real money and there's a 1 quote from Benjamin Franklin that those 2 things so in laughter 1 is best the other 1 is accident we wanna point of also a certain in Latin that's inequality and while a lot of people
talk about other issues of why we should be lower the tax rates and long we would like to reduce the inequalities so what we can agree on it it's like everybody complains about the Texas and the Texas for themselves like to high and uh you should consider that with the Texas some things are getting done like they kinda got public school infrastructure the police you may not like it but it's still have sometimes and that's a laugh will weight and they're like what's tax revenue and then giving some models and how much the station you could have
a and the big question the room with like when you have a Texas and scorched oil install an older means like steering insect what kind of society do we want that you have uh the question Who pays how much for what locals and you can all that in the discussion it's not about like just this Tyler but it so that is followed by the you doing something for the society it used to be
back in the days called like and but no like or businessmen like their hands up and they have a responsibility for the local city or even for the speed it's not just the public getting i which indicates the on the corner down because you don't like what are the assessors taxes are like you have for example achieving our sociability and so you have the tax revenue and that's like a funny formula but basically when somebody's not being Xia and you want the same output somebody else has to be more always not paying what it's reducing so you would have less worthy
stuff like that and then in this talk talk about like the effects of mization snow the legal you make no women not all of them but comics and you might think that you would know the boxes like that's humans was like 12 billion year the last year upon people's goblets Whitman was describing it like the damage from this roughly around 200 billion the year and then you have for example right now and tumor the fungus this this text by but for example and what this follows getting of 1 1 8 billion out of the Texas suspect from system and and you talk about the legal stuff and
this is the quote from Alabama and all of this is legal but that exactly the problem so that servicing eagerly leaders as a guide to the bottom you see that the politicians should answer the questions and he needed discussion about
it why do we need a discussion about it because the leading role of a lot of things are changing so we're taking about like softly eating the rules from Monday's and our we have the I robots taking on jobs and the question is like how do we do with that when you have like an income share of family with declining and this is the
roughly of that corrupted data so he's an economist doing more like the presentation like this but what be definite and he's like if a downward slope in both ways 1 is like a plant from the from the forties till 2009 but the corporate income taxes the and deterministic case effective tax rate so in general you have rules
as corporate taxes the less profit less taxes you pay and once you have profited by paid the profit of text with slower so you should single with year about Texas that is basically a heck picking the tax code
there you echoes and they basically look like round-the-clock to figure out like where they can actually our reduce the amount of
ah text that pay and that's the hacking teams that's the 4 bigger accounting firms
so in terms of things that I could do that would be that it's a lot of scientists fairy dust and a lot of still about to give wet states that she to some companies and you have that 2 million always his money the the US is missing which goes down like 60 billion dollars annually so that's like a fucking lot of the that but for you
estimators like what whether this the attack starting is costing that between 50 and 70 billion a year and they always city of babies Arolsen price shifting reports of basic orders like the regions and why is this
happening when we have a transfer from like real goods doing tangible goods or as so we have a lot of things that doing right now it's like intellectual property patents trademarks and copyrights and even like this this problem of processes so for example the famous thing like monthly gamma some something buttons and
this is the so we have the 5 biggest companies in the world right now the rule means that the tech companies 11 years ago it was like x and mobile of General Electric's British battle and Citigroup banking group so you had a tremendous she like all what is happening with the digitization and that process makes it easier to actually our school around like attention that
intangible assets and 1 famous example about this is like the baboon Irish Dutch-descended you have like 2 shell companies of Irish companies in Emilia forget that company and
a shifting stuff around that the layout in Chinese because it's pretty and over here you can basically see that the an American company using an Irish company pieces the Medellin company being characterized company and transferring money over to them the and that's why how you basically go recommend normal corporate tax with this in the US like up 5 % below 1 % the like something to listen pretty much all of the company's
doing it's like it's Microsoft Apple Google Facebook amazon get very close to to and you might have heard it doesn't seem changes the starbucks gelatin that's at this sense of of mentioned before and it would be good
point of like 1 example that school blue all what AUC itself at tens of that revenue is like based in the US and the UK but only like 1 point we actually paid taxes on the somewhere in this process that is shifting around stuff that basically our lowering it our way down where have like a 2 . 4 of text with full who always used and as an example peanuts on it mean who come standard just like it did show that initiative that is only 150 million that's easily like covered up by a some of text
deduction are dedicated cases that approach so they're sitting on a pile of cash but 250 billion that's almost two-third of delta GDT like two-thirds of decrease of that and that's part of it because the 2 thousand would enormous your . 0 . 0 5 % uncle protects and and that cost a lot of issues
because on the 1 side island was almost broken down is that the European Commission wants the money back and also the US wants that the money at some point so the reason that it was like the European Commission said at the uh 19 billion I have to pay the taxes while islands defending and because it's like part of like the business opportunity belong at text countries and then I build announced
2004 did that it will close like there's a double Irish text loop which is on the 1 side it's good and you can see like this little Bambi that means a capital it's willingly a shy animal and runs away but on the other side there replacing it is
less gorgeous system which is called the knowledge books which basic it does the same shit again just on a different name and then I'm a
1 out of the mass example to see how this stuff works is like a general active so so I'm 20 1st of december 2 thousand 15 of selling a company for 40 thousand Swiss francs and amour leader another General Electric Company was buying it for like 6 . 4 billion and why did we need you talk about effective 167 thousand so that 2nd investment opportunity this stuff is the
avoiding the the tax rate from 18 per cent in Switzerland to 2 % down 100 so that the players involved this and have and the Netherlands and hungry but that's the kind of money was transferred it's all in the slides online because I'm running here so
often times and i like a lot of more examples like that uh but I don't wanna boy your and
the bottom is like of this presentation is a worldwide issue and it's a race to the bottom between the countries and you're losing out and we have for example another example is that in your creative modern standard Truman is ordered Ukraine black money built into tumor is hiding here and then you really can't do anything in that it's 2nd weakest link in the chain in that case would be true many because the transparency register is not our public and added to great addition is that 1 is so mn ownership and the other 1 is expected
industries and spans initiatives so that's my presentation remember a lot of thought about again but when we go back to the x mobile the guy that basically uh Michael more was the bombers yes if 1 itself useful of speech and of Marx guises now from Harvard University going back to like the history and
the policies of fewer half
of a lot of your attentional let you take a step back and talk about how we got to this point brothers begin that corporations basically don't pay any taxes anymore at all and what it can do about it and to do so let me explain what are the basic guiding principles that organize international carbon fixation and since the 19 twenties that been 3 principles and place the first one is called source country-based dexation the segment is called arm's length pricing and the 3rd 1 is called bilateral treaties and I wanna go through each of
these explain what that means and by the cost problems now so source country-based dexation basically means that corporations taxes on the profits and the old texts in the country their production happens to say there's an American car company the car company produces cars terminated says them in France under the system there's supposed to pay taxes in Germany because that's a production happens but now this multinational corporations that's a bit more complicated because production dozen just happen in 1 country so if German car companies say by car parts from Austria it's really part the production is already happening in Austria part of the production's happening in Germany and so the question arises as to pay tax attorney to to pay taxes in Austria or some part each and that's where the 2nd principle comes in to this 1st principal core paper production
happens that source country basic station the 2nd principle is called arm's length pricing and that you're an arm's length pricing is that you have to multinational corporations to have to measure subsidiaries since the system treats them like the independent companies so what that means is that the see their car company as an Austin subsidiary a term subsidiary and still counting uh 1 has to assume that the term subsidiary to pay market prices for a car parts and that's how part of the profits and up in Austria part of the profits ends up in Germany and correspondingly their text and that's the principle of bilateral treaties means that all the details of these are not just uh lot regulated in some over arching system that's common to all countries but in separate treatise for every pair of countries and I might think this
principle some reasonable by a run up to it like that the nature it's worth more less for the 1st few decades of of the system but basically completely broke down in the internet in which uh and that's due to each of these 3 principles now source country fixation what that means is that corporations have an incentive to move the production to the campus has the lowest tax rate to say the car company has decided to produce in Germany or in unipolar and then Poland has a lower corporate tax rates than that makes sense for a company to move to production location Poland and end up being less taxes for the same are among the prophets so the student dots here factories and then the but moved around to some other countries start at the lower taxes and every reduced errors the total Texistepec detail the profits a
now actually don't they don't even have to do that on the principle of arm's length pricing because his arm's length pricing turns of what it can do is just made up of prices through to page of 2 subsidiaries and so the example I want you to have in mind is for instance Google vertical search algorithm that's on the promoters and what that means is that under this system the fiction is that the production of core research happens in the remotest and so all the other group subsidiaries have to pay uh the market price vertical research order the promoters but is there's no market for the research ordering the just make up whatever price they want
to and so they all the other subsidiaries be a ton of money to the promoters and end up having no profits and all the profits and up in the low-tax country promoters and so just that between this accounting tricks to move to profit around and then the paying no no Texas because that and finally bilateral treaties what that does is that you have tons of inconsistencies between these different treaties this lots of different details that matter here and this mis don't those details of different different readers what you can do is the higher of smart lawyers and the spot laws figure out that uh but moving from locations and some accounting and so on back and forth you can end up in the uh computed reducing your tax bill and that for instance there uh the Double Irish Dutch temperatures 1 example of this but there are many other is less well-known examples the and answer all of these principles are used a bit about a big Internet giants but I've got a firm so that year for instance a starbucks and again the reason that the internet age matters for this is that you have tons of intangible stuff like search algorithms like logos all kinds of things for which there is no market and you can just pretend that the production happens in the promoters or wherever and W. motor profits wherever don't pay any taxes that
and so to summarize that there are 3 reasons that corporations don't pay taxes anymore the first one is that they just use this a fictitious prices to move profits around the 2nd 1 is that the move actual production around and a certain is because the 1st 2 there's a ton of tax competition between countries if companies to just use the profits forever to pay the lowest Texas countries have an incentive to lower the tax rate and if the lower tax rates than the company's been most of profits to that country and that country ends of having more revenue but every other country loses out and you get this race to the bottom that's exactly what we've seen since the beginning of the eighties so
you're just picked out some European countries and you see this massive collapse of corporate tax rates silent as the uh 1 of 2 famous examples the started off as a tax rate of 50 per cent in the early eighties and collapse down to transfer center the same is true for instance for Germany starting off at 60 per cent of going down to 30 % of reducing by a half the amount of the charge to corporation so it's about a combination of all these 3 things you get that model because this don't pay taxes anymore it's kind of depressing because that
means everybody else has to pay the bill you get less
public services are everybody else has to pay more taxes but turns out there are things that can be done about this and declared as a whole bunch of could reform proposals out there and the best but in our opinion is called apportionment and so the idea is to get rid of this idea of source country basic station to get rid of the idea of arm's length pricing and instead allocate profits to countries in a different way and what state space the Gaussian dozens it's as if your operating in this country as a corporation have reported lower profits you have to report to share a few brought after sales of happen that country multiply the true and that's a tax base and that's what you pay taxes on in that country advised is a good idea this this is this Mr. portion and what happens is that you cannot move your text is around anymore it doesn't metadata producer doesn't matter what the counting prices to come up with because you can't move to consumers around uh and he just stuck with the country which operating in that area have to pay taxes right so who we can just move all the people whom we use a grid over into the promoters um you know can with the profits there but they're they're consumers are very odd and so on the system in every country to to set their own tax rate it would have no more incentive to lower the tax rates and you would get back to assist in the
trees the corporations pay their fair share again the and what of nice about this proposal is you could introduce it 1 country at a time so this doesn't require everybody introduces this at the same time the just of Germany over whichever country started to do this uh and that would make economic sense uh and T. with restore the tax base and the FairTax system for everybody not address is how to get there and
that's the 1 turn over to study few
yes so after all the background you just got sent it might just wonder that OK so we want the fairer more transparent system where everyone
also my kinetic operations contribute to the progress of our societies how do we get there how do we get to this is the mean to say heard about and the 1st step to change the system if you need to want to change the system and this is already an open question within the European Union whether we actually do want to change the system so as I as you probably hear from the different countries that only people from billion and actually will be interesting for me to see it like who in the room xt would like to change the international tax system to the system which is transparent fair and similar to the 1 that
Marx described can you just raise your hand OK and who would not like to change the system I to a fair and that the system where everyone contributes her that their shared our societies you can be brave I can anyone yeah there's 1 person so I yeah you all are kind of average people and want to change the
tax system so that might magnetic operations also contribute and that you in the back congratulations you fully in line with the European leaders and head of states and governments who actually like the system because they don't want to change and so you actually want this debate and it's not about actually at the moment it's not so much about like what the majority wants more about what the people want to actually do decide and this brings me to the next that the question of who's
responsible for the current international tax system on this picture
you see all the European leaders and and heads of states together with the Pope friends this I'm on the eve of the summit in Rome and to mark the 60th anniversary of the European Union you can see all the you the Anglo-American here you see Austin turns the Clifton can there on national governments that had the states but secondly they're not only responsible for politics in their own countries they also together form the European Council and the European Council is within the European Union response but to set the general direction and political priorities within Europe so these are the
people who are responsible not only for tax evasion they also and responsible for the wrenching austerity did we have to endure caused by capped by cooperation not paying taxes why did they do this they why didn't change the system I think there's only 2 explanations 1 is a possible explanations 1 is they don't know how the system breaks they don't know that it's like bluntly unfair and the 2nd 1 is the actually like his sister because it represents the interests of those people and corporations that they actually represent within Europe so um I leave it up to you when you look at this picture and whether it's the pope and the lot of Flickr in a sentence actually I don't maybe 1 or 2 black sheep but actually we don't want to change this the when you think of the European Union is also the European Parliament and 1 other questions like it should do they have a say in this thing quite like people who voted for it and then the questions of like how do they think so within the European Parliament of course there's some people who would also selected push for change in nest in international tax system but most of them are mainly concerned with what
happens in their own countries so when you look at the Irish the Irish fraction in the European Parliament this is what we heard so much they like a double Irish with the Dutch standards because this is where they get the texts from and this is where they want in the tax rates I the main the advantage of corporations with capitalism brakes on a global scale democracy obviously doesn't so um as long as there's no pressure on our representatives in the national and in the national governments and the European Parliament there's no reason for anyone to change the system the lobbyists and corporations they make their awards heard and we obviously don't because you raise your hand when you're in property to embrace a voice when it comes to elections and but is it all hopeless no it's not there are things we can do and like in the U. of Republican
weekend love out loud we can laugh Europe and we like we can laugh Texas and the 1st of all Texas are quite a cool thing and it's actually the best way to fund projects by the crops and we do like as a society we do find a lot of things about Texas we do find wars we do find presence we do find directly multinational corporations by our subsidies and we don't find things we we might want to do so if you are
convinced that that 1 of your project this something extra you could if you convinced that 1 of your project is for a greater good you should let just run off with it and find with difference you should be actually in the public discourse demanding that led our tax money this finding good cost why should we not do something good with it if we can it's or lower worth and 2nd the 2nd thing we should all do is they cannot be like the European Parliament that only think within our national borders but we should make this a European cause when Starbucks not paying money in Berlin it's also obtained money in the and that's not paying money money list and so when we we talk about the pets costs and international tax system we should bring it to the European level and the European attention so this autumn we actually also working on a project where we want to make the the whole topic of European European text system a
across or like a discussion in the public media if you want to join the scores just sign up on this little like if you can see the mature and maybe and the way to sign up for autumn but demanded that that the and we can tell you what we will do thank you in the
lower back well in
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Titel Taxation, the most boring #rp17 talk
Serientitel re:publica 2017
Autor Palmetshofer, Walter
Kasy, Maximilian
Platsch, Dani
Lizenz CC-Namensnennung - Weitergabe unter gleichen Bedingungen 3.0 Deutschland:
Sie dürfen das Werk bzw. den Inhalt zu jedem legalen Zweck nutzen, verändern und in unveränderter oder veränderter Form vervielfältigen, verbreiten und öffentlich zugänglich machen, sofern Sie den Namen des Autors/Rechteinhabers in der von ihm festgelegten Weise nennen und das Werk bzw. diesen Inhalt auch in veränderter Form nur unter den Bedingungen dieser Lizenz weitergeben.
DOI 10.5446/33065
Herausgeber re:publica
Erscheinungsjahr 2017
Sprache Englisch

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Fachgebiet Informatik
Abstract Taxation, the most boring #rp17 talk, but hey it's the economy stupid, and you pay for it! We will a provide a quick overview of the international taxation system. Explaining what a Double Irish Sandwich is. Why international corporations like Google only pays 2.4% taxes. And how your favourite tech companies (Google, Amazon, Apple, Microsoft, ... ) evaded billions in taxes. This tax-dodging costs the European Union more than 50 billion. Annually. We bring this numbers into perspective. And why you pay more.

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