SB 104-06: Global Corporate Taxation Act (Passed)
       |           

Welcome, Guest. Please login or register.
Did you miss your activation email?
March 29, 2024, 01:14:13 AM
News: Election Simulator 2.0 Released. Senate/Gubernatorial maps, proportional electoral votes, and more - Read more

  Talk Elections
  Atlas Fantasy Elections
  Atlas Fantasy Government (Moderators: Southern Senator North Carolina Yankee, Lumine)
  SB 104-06: Global Corporate Taxation Act (Passed)
« previous next »
Pages: 1 [2] 3
Author Topic: SB 104-06: Global Corporate Taxation Act (Passed)  (Read 1914 times)
SevenEleven
Junior Chimp
*****
Posts: 5,588


Show only this user's posts in this thread
« Reply #25 on: July 24, 2021, 04:03:36 AM »

Okay I see what happened here.

If an amendment is offered to add extra clarification, I don't think that is overly problematic. Since this is a tax that won't even be implemented for a while, we don't necessarily need to rush. I am confident that the Senate can come to an agreement that works for everyone.
Logged
The world will shine with light in our nightmare
Just Passion Through
Atlas Legend
*****
Posts: 45,175
Norway


Political Matrix
E: -6.32, S: -7.48

P P P

Show only this user's posts in this thread
« Reply #26 on: July 24, 2021, 05:02:19 AM »

Okay I see what happened here.

If an amendment is offered to add extra clarification, I don't think that is overly problematic. Since this is a tax that won't even be implemented for a while, we don't necessarily need to rush. I am confident that the Senate can come to an agreement that works for everyone.

It is a huge pet peeve of mine when everyone wants to submit an amendment after being told that a vote is about to start.

Anyway. Ending the cloture vote.
Logged
SevenEleven
Junior Chimp
*****
Posts: 5,588


Show only this user's posts in this thread
« Reply #27 on: July 24, 2021, 05:44:23 AM »

Okay I see what happened here.

If an amendment is offered to add extra clarification, I don't think that is overly problematic. Since this is a tax that won't even be implemented for a while, we don't necessarily need to rush. I am confident that the Senate can come to an agreement that works for everyone.

It is a huge pet peeve of mine when everyone wants to submit an amendment after being told that a vote is about to start.

Anyway. Ending the cloture vote.

Oh, I understand. The bill did sit unaddressed for nearly a week.
Logged
AGA
Atlas Politician
Junior Chimp
*****
Posts: 5,267
United States


Political Matrix
E: 0.39, S: -5.39

P P
Show only this user's posts in this thread
« Reply #28 on: July 24, 2021, 08:29:47 AM »
« Edited: July 24, 2021, 10:49:09 AM by AGA »

Quote
Section 2. Definitions

(a) Global Intangible Low-Taxed Income (GILTI).—The term 'Global Intangible Low-Taxed Income' (GILTI) is a category of income (from intangible assets such as patents, trademarks, and copyrights) that is held abroad by Atlasia-controlled international corporations incorporated in Atlasia international corporations.

(b) International Company.—The term 'International Company' is a corporate organization that owns or controls the production of goods or services in at least one country other than its home country.

I'll support moving to a final vote after this amendment.

EDIT: Forgot to strikeout the words on the right.
Logged
The world will shine with light in our nightmare
Just Passion Through
Atlas Legend
*****
Posts: 45,175
Norway


Political Matrix
E: -6.32, S: -7.48

P P P

Show only this user's posts in this thread
« Reply #29 on: July 24, 2021, 10:36:16 AM »

Friendly.

Senators have 24 hours to object, after which we will move to a final vote.
Logged
Spark
Spark498
Atlas Politician
Junior Chimp
*****
Posts: 9,708
United States


Political Matrix
E: -6.58, S: 0.00


Show only this user's posts in this thread
« Reply #30 on: July 25, 2021, 01:37:08 PM »

Nay
Logged
Continential
The Op
Atlas Politician
Atlas Icon
*****
Posts: 10,547
Political Matrix
E: 1.10, S: -5.30

P P P

Show only this user's posts in this thread
« Reply #31 on: July 25, 2021, 01:39:44 PM »

Aye
Logged
The world will shine with light in our nightmare
Just Passion Through
Atlas Legend
*****
Posts: 45,175
Norway


Political Matrix
E: -6.32, S: -7.48

P P P

Show only this user's posts in this thread
« Reply #32 on: July 25, 2021, 02:17:51 PM »
« Edited: July 25, 2021, 06:32:18 PM by Senator Scott, PPT »

Hearing no objection, the amendment is adopted and a final vote is now open. Senators, please vote Aye, Nay, or Abstain.

Quote from: Final Senate Text
AN ACT
To tax large multinational organizations and to promote a global tax overhaul


Be it enacted by the Senate of the Republic of Atlasia assembled


Quote
Section 1. Title

This legislation may be cited as the Global Corporate Taxation Act.

Section 2. Definitions

(a) Global Intangible Low-Taxed Income (GILTI).—The term 'Global Intangible Low-Taxed Income' (GILTI) is a category of income (from intangible assets such as patents, trademarks, and copyrights) that is held abroad by international corporations incorporated in Atlasia.

(b) International Company.—The term 'International Company' is a corporate organization that owns or controls the production of goods or services in at least one country other than its home country.

Section 3. Global Minimum Tax

(a) Starting in 2023, a global minimum tax of 15% shall be levied on international companies, with the exception of financial institutions and extractives, such as oil, whose annual global revenue (GILTI) meets or exceeds $890 million, for goods and services sold abroad.

(a) A global minimum tax of 21% shall be levied on international companies, whose annual global revenue (GILTI) meets or exceeds $20 billion, for goods and services sold abroad.

Section 4. Support for G7 Finance Ministers and Central Bank Governors Communiqué

(a) The Republic of Atlasia officially endorses the framework outlined by the June 2021 G7 Finance Ministers and Central Bank Governors Communiqué to address "the tax challenges arising from globalisation and the digitalisation of the economy and to adopt a global minimum tax."
Logged
The world will shine with light in our nightmare
Just Passion Through
Atlas Legend
*****
Posts: 45,175
Norway


Political Matrix
E: -6.32, S: -7.48

P P P

Show only this user's posts in this thread
« Reply #33 on: July 25, 2021, 02:18:37 PM »

Aye
Logged
GM Team Member and Senator WB
weatherboy1102
Atlas Politician
Atlas Icon
*****
Posts: 13,628
United States


Political Matrix
E: -7.61, S: -7.83

P
WWW Show only this user's posts in this thread
« Reply #34 on: July 25, 2021, 03:01:55 PM »

Aye
Logged
AGA
Atlas Politician
Junior Chimp
*****
Posts: 5,267
United States


Political Matrix
E: 0.39, S: -5.39

P P
Show only this user's posts in this thread
« Reply #35 on: July 25, 2021, 03:32:05 PM »

Aye
Logged
Left Wing
FalterinArc
YaBB God
*****
Posts: 3,512
United Kingdom


Political Matrix
E: -8.26, S: -6.09


Show only this user's posts in this thread
« Reply #36 on: July 25, 2021, 03:47:51 PM »

Aye
Logged
Continential
The Op
Atlas Politician
Atlas Icon
*****
Posts: 10,547
Political Matrix
E: 1.10, S: -5.30

P P P

Show only this user's posts in this thread
« Reply #37 on: July 25, 2021, 04:10:37 PM »

Aye if it didn't go through last time
Logged
wxtransit
Junior Chimp
*****
Posts: 5,106


Political Matrix
E: -0.26, S: 2.43

Show only this user's posts in this thread
« Reply #38 on: July 25, 2021, 04:15:14 PM »

Aye.
Logged
Spark
Spark498
Atlas Politician
Junior Chimp
*****
Posts: 9,708
United States


Political Matrix
E: -6.58, S: 0.00


Show only this user's posts in this thread
« Reply #39 on: July 25, 2021, 08:39:29 PM »

We need to curtail this massive globalization. Aye
Logged
Holy Unifying Centrist
DTC
Atlas Politician
Junior Chimp
*****
Posts: 5,201


Political Matrix
E: 9.53, S: 10.54

WWW Show only this user's posts in this thread
« Reply #40 on: July 25, 2021, 08:51:01 PM »

Aye!!!!
Logged
KoopaDaQuick 🇵🇸
KoopaDaQuick
Moderators
Junior Chimp
*****
Posts: 6,299
Anguilla


Political Matrix
E: -8.50, S: -5.74


WWW Show only this user's posts in this thread
« Reply #41 on: July 25, 2021, 08:53:47 PM »

gonna john hancock my AYE here
Logged
Saint Milei
DeadPrez
Atlas Politician
YaBB God
*****
Posts: 4,008


Political Matrix
E: 9.16, S: -7.91

Show only this user's posts in this thread
« Reply #42 on: July 25, 2021, 09:00:02 PM »

Hell to the nah


NAY
Logged
Esteemed Jimmy
Jimmy7812
Junior Chimp
*****
Posts: 7,406
United States
Political Matrix
E: 2.47, S: -1.05

Show only this user's posts in this thread
« Reply #43 on: July 25, 2021, 10:19:04 PM »

Aye
Logged
The world will shine with light in our nightmare
Just Passion Through
Atlas Legend
*****
Posts: 45,175
Norway


Political Matrix
E: -6.32, S: -7.48

P P P

Show only this user's posts in this thread
« Reply #44 on: July 25, 2021, 10:40:06 PM »

This bill has enough votes to pass. Senators have 24 hours to change their final vote.
Logged
Joseph Cao
Rep. Joseph Cao
Atlas Politician
Junior Chimp
*****
Posts: 5,153


Show only this user's posts in this thread
« Reply #45 on: July 25, 2021, 11:50:45 PM »

Aye.
Logged
Kuumo
Sr. Member
****
Posts: 2,080


P P
Show only this user's posts in this thread
« Reply #46 on: July 26, 2021, 09:38:07 AM »

Aye
Logged
OBD
Junior Chimp
*****
Posts: 5,575
Ukraine


Political Matrix
E: -5.16, S: -6.26

Show only this user's posts in this thread
« Reply #47 on: July 26, 2021, 08:04:09 PM »

Aye
Logged
The world will shine with light in our nightmare
Just Passion Through
Atlas Legend
*****
Posts: 45,175
Norway


Political Matrix
E: -6.32, S: -7.48

P P P

Show only this user's posts in this thread
« Reply #48 on: July 27, 2021, 09:06:57 PM »

Vote on Final Senate Passage of the Global Corporate Taxation Act:

Aye (13): Scott, Weatherboy, AGA, FalterinArc, Ishan, wxtransit, Spark, DTC, KoopaDaQuick, Jimmy7812, Joseph Cao, Kuumo, OBD
Nay (1): DeadPrez
Abstain (0):

Didn't Vote (4): North Carolina Yankee, Talleyrand, MB, Pericles

This bill has passed the Senate and is sent to the President for executive action.
Logged
The world will shine with light in our nightmare
Just Passion Through
Atlas Legend
*****
Posts: 45,175
Norway


Political Matrix
E: -6.32, S: -7.48

P P P

Show only this user's posts in this thread
« Reply #49 on: July 27, 2021, 09:07:52 PM »

Quote
AN ACT
To tax large multinational organizations and to promote a global tax overhaul


Be it enacted by the Senate of the Republic of Atlasia assembled


Quote
Section 1. Title

This legislation may be cited as the Global Corporate Taxation Act.

Section 2. Definitions

(a) Global Intangible Low-Taxed Income (GILTI).—The term 'Global Intangible Low-Taxed Income' (GILTI) is a category of income (from intangible assets such as patents, trademarks, and copyrights) that is held abroad by international corporations incorporated in Atlasia.

(b) International Company.—The term 'International Company' is a corporate organization that owns or controls the production of goods or services in at least one country other than its home country.

Section 3. Global Minimum Tax

(a) Starting in 2023, a global minimum tax of 15% shall be levied on international companies, with the exception of financial institutions and extractives, such as oil, whose annual global revenue (GILTI) meets or exceeds $890 million, for goods and services sold abroad.

(a) A global minimum tax of 21% shall be levied on international companies, whose annual global revenue (GILTI) meets or exceeds $20 billion, for goods and services sold abroad.

Section 4. Support for G7 Finance Ministers and Central Bank Governors Communiqué

(a) The Republic of Atlasia officially endorses the framework outlined by the June 2021 G7 Finance Ministers and Central Bank Governors Communiqué to address "the tax challenges arising from globalisation and the digitalisation of the economy and to adopt a global minimum tax."

Senate of the Republic of Atlasia
Passed 13-1-0-4 in the Atlasian Senate assembled,

Scott, President pro tempore
Logged
Pages: 1 [2] 3  
« previous next »
Jump to:  


Login with username, password and session length

Terms of Service - DMCA Agent and Policy - Privacy Policy and Cookies

Powered by SMF 1.1.21 | SMF © 2015, Simple Machines

Page created in 0.051 seconds with 12 queries.