Paradise Lost Joe Biden Declares War on Tax Havens – in Europe, Too

U.S. President Joe Biden is calling for a minimum corporate tax rate of 21 percent for companies. But countries like Ireland and Luxembourg have established a lucrative revenue stream through big breaks for multinationals. A number of EU countries could soon feel the pinch.
The harbor in Galway, Ireland: If the United States gets its way, corporate headquarters and thousands of jobs could be lost in Europe.

The harbor in Galway, Ireland: If the United States gets its way, corporate headquarters and thousands of jobs could be lost in Europe.

Foto: Jan-Peter Boening / laif
DER SPIEGEL 16/2021
SPIEGEL International
Facebook CEO Mark Zuckerberg has said his company would be prepared to pay more taxes.

Facebook CEO Mark Zuckerberg has said his company would be prepared to pay more taxes.

Foto: Aurelien Meunier / Getty Images
Countries that build their financial systems on low taxes will face losses.