{"id":3262,"date":"2024-12-04T11:49:37","date_gmt":"2024-12-04T11:49:37","guid":{"rendered":"https:\/\/www.globalintegra.co.uk\/blog\/?p=3262"},"modified":"2024-12-05T10:16:42","modified_gmt":"2024-12-05T10:16:42","slug":"the-future-of-cross-border-vat-will-ioss-registration-become-a-standard-for-e-commerce","status":"publish","type":"post","link":"https:\/\/www.globalintegra.co.uk\/blog\/the-future-of-cross-border-vat-will-ioss-registration-become-a-standard-for-e-commerce\/","title":{"rendered":"Understanding the 15% Global Minimum Tax: What Firms Need to Know"},"content":{"rendered":"

One of the most revolutionary moments in international taxation has been reached with the introduction of a global minimum tax at 15%. This effort is initiated by the OECD’s Inclusive Framework on Base Erosion and Profit Shifting to bring an end to aggressive tax avoidance and create a fairer environment for global tax. For accounting firms in the UK, knowledge of this policy is an essential requirement to inform its clients and assimilate its implications. This guide unpacks the essentials and provides actionable insights.<\/span><\/p>\n

What is the 15% global minimum tax, and why does it matter?\u00a0\u00a0<\/strong><\/h4>\n

The global minimum tax is the pioneering effort to ensure multinationals pay a tax of at least 15% of their profit irrespective of the location of their headquarters or where they operate. The new law will end the arms race in cutting corporate tax rates of countries, thereby addressing the long-standing issue of tax competition.<\/span><\/p>\n

This tax matters because it:\u00a0<\/span><\/p>\n