Dear Pirates. We (Wietze and Danny) did try but failed to create a coherent story on taxation for the CEEP 2024. Yet we would like to share here some of the individual items that came up during our discussions.
Release early, release often, as the bazaar adage goes. Input, comments and text management is very welcome to create the narrative.
PART 1 (only two links are allowed, so parts)
Pirates break monopolies. A healthy distrust towards large organizations, private and public, is the basis for our transparency policies and tax proposals.
With fair taxation, we can create more shared prosperity. Currently, labor is overtaxed and wealth undertaxed. Pirates want multinationals to contribute their just part. Raising taxes on hoarding money and depleting the planet, makes lowering taxes on labor feasible and encourages sustainable development.
Tax Rulings, negotiated primarily with large international corporations, are a pressing problem of our time. Due transparency is a far cry.
International tax competition and profit shifting have led to a large decline in effective corporate tax rates. Multinational companies with low effective tax rates in some foreign countries would have to make up this tax deficit in their home countries. The tax deficit is the difference between the amount a company pays in taxes worldwide and what it would have to pay if all of its profits were subject to an internationally agreed minimum rate in each of the countries in which it operates. Pirates want to collect the tax deficits of multinationals as taxes.
Tax cuts for large companies are often used for share buybacks. Stock buybacks come at the expense of production resources, employee wages, the long-term viability of the company and the economy as a whole. A buyback of 50% in principle doubles the share value and should be taxed as income for the shareholder. Pirates want to tax stock buybacks.
Pirates propose to institute a new tax on corporations’ stock shares for all publicly listed companies and large private companies headquartered in G20 countries. Each of these companies would have to pay 0.2% of the value of its stock in taxes each year.
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