Amazon circumvents new global minimum G7 corporate tax agreed because its profit margins do not exceed 10%.

Amazon could 'escape' the new minimum type of Companies that the G7 has agreed.

This Saturday the G7 reached a historic agreement for a global minimum Corporate tax that could leave in the air the controversial Google tax that countries like Spain have already approved and are taxing. This is the first step towards a new taxation of large technology companies that do not pay taxes in countries where they have barely a corporate presence, but a market.

Facebook, Amazon and Google have already spoken out publicly, praising the agreement. "We believe that an OECD-led process that creates a multilateral solution will help bring stability to the international tax system. The G7 agreement is a step forward in the effort to achieve that goal," a spokesman for the e-commerce giant told Reuters.

It is not the first time that a spokesman for the company defends a coordinated and international process against the rates that have been approved by various European countries in recent months. Mariangela Marseglia, head of Amazon in Spain, highlighted last year in this medium that"the market is not just a country, we need global standards".

Amazon circumvents new global minimum G7 corporate tax

But several experts have stressed in The Guardian that the US multinational could continue to avoid this new type. The new type sinks its approaches into two pillars. The first: it will apply to multinationals with a profit margin greater than 10%. A 20% tax on this margin would be redistributed and taxed in the countries in which these companies operate.

The second pillar is the overall minimum company rate of 15%, which will discourage large companies from declaring their profits in tax havens.

According to the British newspaper, Amazon is one of the largest businesses in the world with a stock market valuation of about 1,600 billion dollars, and revenues of more than 386,000 million in 2020. Its subsidiary in Luxembourg paid nothing in corporate taxes on its sales, valued in Europe at 44,000 million euros.

Amazon circumvents new global minimum G7 corporate tax

However, its profit margin last year was only 6.3%. This is explained by the fact that technology reinvests much of its profits. But it's also why Richard Murphy, visiting professor of Accounting at the University of Sheffield school of business, believes this deal is "inappropriate" to put the cut at a 10% margin.

Paul Monaghan, head of the Fair Tax Foundation, agrees and summarizes that, based on the known, the new type "does not capture Amazon". "If there were other layers of detail that you could 'hunt 'Amazon with, that would be great, but that's not the case at the moment."

Amazon circumvents new global minimum G7 corporate tax: Monaghan's counterpart, Alex Cobhan, head of Tax Justice Network, believes that if the OECD cannot ensure that Amazon pays, "not only will it fail with its response to public opinion demand for justice", "it will also offer a guide for other technology multinationals to circumvent that tax in the same way".

The US Treasury Secretary, Janet Yellen, defended last Saturday to Reuters that she hopes that Amazon and its business model will also be covered in this new type. After this consensus of the G7, it will be tried to raise the same agreement to the G20, as steps prior to the international agreement that will be achieved within the OECD itself.

In Spain, the President of the Government, Pedro Sánchez, has repeatedly defended that the initial objective of the Government has always been to wait "for the OECD to decide". But the agreement was postponed last year until mid-2021. "Corporations that, I insist, are not paying taxes, do not pay them like the self-employed, do not pay them like SMEs, and therefore, introduce a very important distortion in the market," he said in mid-2020.

Amazon circumvents new global minimum G7 corporate tax

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How much money it costs to build a pool in your home today: the prices you should consider

In recent times many people have decided to take advantage of their savings from the coronavirus crisis to make some changes in their housing.

Using the surplus of savings for concepts such as reforms, either of integral type, or of some rooms such as the kitchen or the bathrooms is becoming quite common in recent times.

Also, the use of these funds for concepts such as changing the parquet is very common.

To do this, it is important to carry out adequate financial planning, so that the budget you have is not altered and that economic health is adequate. In this sense, it is recommended that you previously have a good saving habit: from not entering more than you spend, to making automatic transfers.

Once things are clear, you can go into expenses to make some modifications in your home. So, now that summer is approaching, some users wonder how much money it costs to build a pool in housing, taking into account current prices.

Surely, you have ignorance. Hence it is essential to review some concepts.

In the first place, the price of the pool will depend on many factors such as: the way of the swimming pool, the construction system, the type of pool, the type of recirculation of the water, the quality of the materials such as tile, scrubbing systems, the coronation of the pool, if you include the excavation or not, the price of the license of the construction of the swimming pool, the project of the pool, accessory pool, and a long etcetera.

In this way, in the market you can find a huge variety of budgets. However, and serving as a reference, it is advisable to follow the average costs that can involve the construction of a pool.

Generally, as with other concepts, it is advisable to compare budgets and consult with companies in the sector the different qualities and elements that make up the pool, to avoid possible problems that may have a posteriori. Moreover, considering that a pool has some very specific elements that individuals are not usually used to.

For example, it is important to legalize the pool. It is an obligation of all citizens to comply by law with all local permits and licenses for this type of works. In addition, it will prevent you from having problems with neighbors when fulfilling obligations.

In the third instance, being legalized you will add value to the home, being able to include this new construction in future appraisals and writing. This procedure can amount to about 1,000 to 1,500 euros, depending on local taxes in particular.

On the other hand, you have to take into account the excavation of the pool. There may be a greater price swing here, given that it will depend on the depth and size you want to give it. This item varies a lot, but is between 800 to 1,000 euros on average. But on the market you can find wider rates: from 500 to 2,500 euros.

To this must be added the type of recirculation of the water in the pool is one of the points that can affect the price the most. Some customers will choose some systems or others depending on some factors such as design or greater functionality. Depending on the budget, the architecture of the house and the available space, you can select one type of pool or another. The best thing in these cases is to be well advised and be advised by professionals such as Equidesa who will indicate the best option for your home.

Prices for a standard pool excluding the legalization part and the excavation of the vessel, may be around the following prices in the market. For example, a pool of 8 x 4 netris costs from 11,000 to 12,000 euros, while a pool 5 x 3 meters around 7,000 to 8,000 euros.

Having said that, in fact, all these prices are very relative, since, depending on the materials and brands of the internal purification systems, they can vary considerably. To all these prices it would be necessary to add its corresponding VAT.