Hey so a few starting points, sorry about long post.
(1) a lot of major US corporations (Apple, Google,Microsoft) effectively manipulate their tax residency to reside in Ireland and benefit from its low corporation tax rate (12.5%)
(2) In reality, these corporations often pay closer to 0% corporation tax in Ireland, as the Irish government offer various tax incentives to attract these companies to Ireland. This is well documented in various tax cases between Ireland, Apple, the EU.
(3) The EU and US have been unhappy about this situation for a long time, for obvious reasons about reduced tax take in their own countries
(4) Last week the G7 (grouping of major countries, US,UK,Japan etc but NOT China or India) met and agreed proposals for global corporation tax harmonisation (15%) but more importantly rules suggesting tax would be claimed where sales are made for these companies rather than where the physical presence of the company is.
(5) if the proposals do not get global approval, it’s been suggested that countries will introduce so called “digital taxes” aimed at targeting the enormous profits of these corporations.
I understand that these proposals would take G20 approval and would be finalised by the OECD and will likely take over a year to transpire
But this may have some impact on these companies (or more importantly their share price)