HarmonyVote

Initiative Title: Fair Global Taxation and Corporate Accountability Act

Description:

1. Global Minimum Corporate Tax:
   Support the implementation and strengthening of a universal minimum corporate tax rate (e.g., 20% or higher) on multinational profits to prevent base erosion and profit shifting (BEPS).

2. Country-by-Country Reporting (CbCR):
   Mandate full public disclosure of profits, revenues, taxes paid, and subsidies received by multinational corporations in each country they operate.

3. Digital Economy Taxation Reform:
   Develop clear, fair frameworks for taxing digital companies based on the location of their users and value creation, not just corporate headquarters.

4. Crackdown on Tax Havens and Illicit Finance:
   Enforce automatic information exchange between jurisdictions, transparency in beneficial ownership registers, and sanctions on non-cooperative tax havens.

5. Progressive Wealth Tax Pilot Schemes:
   Promote national and regional pilots to tax extreme wealth progressively, including assets held in offshore accounts, with thresholds set high enough to exempt ordinary savings and small businesses.

6. UN Tax Convention and Global Tax Body:
   Establish an intergovernmental tax body under the United Nations to coordinate international tax rules, resolve disputes, and promote fiscal justice, especially for low- and middle-income countries.

7. Redirected Revenues to Global Public Goods:
   Allocate a portion of recovered tax revenue toward climate justice, pandemic preparedness, education, and digital infrastructure in developing countries.

8. Civil Society and Democratic Oversight:
   Involve citizens, unions, and watchdog organizations in tax policy design and monitoring, ensuring transparency and public trust.

Possible Outcomes and Implications:

• More Equitable Global Economy: Ensures the wealthiest pay their fair share, reducing inequality and fostering inclusive development.
• Stable Public Finances: Increases tax revenue for essential services without overburdening working-class populations.
• Reduction in Corporate Tax Dodging: Curtails the race to the bottom in tax rates and reinvests hidden profits in communities.
• Strengthened Global Governance: Creates a level playing field and reduces tensions between high- and low-income nations.

Votes: