Institutions
Law that was created for tax 100 years ago
Business Tax Laws
Country that imposed a Digital Tax in 2019
France
Money that people have to pay to the government
Tax
What are the GAFA selling
Digital products and services
GAFA
Google, Apple, Facebook, and Amazon
Countries that has no taxes
Bermuda and Barbados
Is an amount of money that you gain when you are paid more for something than it cost you to make, get, or do.
Profit
How does Facebook and Google make money in Japan
Selling advertisements
GAFA are being criticized for
Not paying enough taxes
Countries that are for a global digital tax agreement
Germany and France
To whom do companies pay taxes on profits they generated?
In the country where they are based
When France imposed a digital tax, what did the US say it would do
Put extra taxes on French cheeses and Champagnes
Institution trying to change the tax system
The Organization for Economic Cooperation and Development (OECD)
Countries that are against a global digital tax agreement
The U.S. and China
What do businesses do today to pay little or no taxes
They move their operations to other countries that make businesses pay little or no taxes
When does OECD want to close an agreement on Digital Taxes
by the end of 2020
Why does OECD want to have meetings with major countries
To talk about a global tax agreement
Countries that had a conflict because of Digital Tax in 2019
The U.S. and France
An agreement that the OECD created regarding Bermuda and Barbados
To stop companies from moving their profits to countries with no taxes
A tax applied to digital business activities
Digital Tax