Fundraising strategies

«As we focus on recovery from the pandemic and the huge investments needed, tax fairness is more important than ever. We need to strengthen our armor against tax abuses,» said Gentiloni, who warned that translating a possible agreement at the OECD into EU law will not be easy.

«If there was agreement on a minimum tax it would be extremely important, whatever the rate, because it would be the first time there is agreement. And even if it is 15%, which to me is too low, it could pave the way for higher rates in the future,» said Zucman at the presentation of the Observatory.

In this regard, the report calculates the tax shortfall of multinationals, defined as the difference between what they currently pay in taxes and what they would pay if they were subject to a minimum tax rate in each country.

First, the Tax Observatory simulates an international agreement on a minimum tax as currently being discussed by the OECD, supported by several European Union countries and the United States. In this scenario, each EU country would collect the tax shortfall from its own multinationals. For example, if the internationally agreed minimum tax rate is 25% and a German company has an effective tax rate of 10% on the profits it records in Singapore, then Germany would impose an additional 15% tax on these profits to arrive at an effective rate of 25%.

What it means to raise funds

Jeff -formerly, Mr Jeff- started its expansion with franchises in 2018. It had been born as an app in 2015: like the Uber or Glovo on duty that picks up your clothes at home and returns them to you clean and ironed. «Jeff wants to be your day-to-day service,» Gomez summed up in an interview in 2019. «We started with laundry and used the franchise model to scale.»

The main argument of the complainants is the lack of marketing, with examples showing that there were months when the app generated revenues of 24 sad euros to a store but charged royalties of almost 700.

This is explained by someone who came in early, when the company did not charge royalties but a percentage of turnover. «They promised things that weren’t true. And they figured it out right away. Since they had money [from investment rounds], they took on the logistics and gave us bonuses. On paper they were for meeting quality conditions, but in reality it was for sucking up to them and to keep us quiet,» says this person, who with that extra got to cover expenses. «They lowered prices, so even with 30 orders a day, it wasn’t a profitable business.

Fundraising

«As we focus on recovery after the pandemic and the huge investments needed, tax fairness is more important than ever. We need to strengthen our armor against tax abuses,» said Gentiloni, who warned that translating a possible agreement at the OECD into EU law will not be easy.

«If there was agreement on a minimum tax it would be extremely important, whatever the rate, because it would be the first time there is agreement. And even if it is 15%, which to me is too low, it could pave the way for higher rates in the future,» said Zucman at the presentation of the Observatory.

In this regard, the report calculates the tax shortfall of multinationals, defined as the difference between what they currently pay in taxes and what they would pay if they were subject to a minimum tax rate in each country.

First, the Tax Observatory simulates an international agreement on a minimum tax as currently being discussed by the OECD, supported by several European Union countries and the United States. In this scenario, each EU country would collect the tax shortfall from its own multinationals. For example, if the internationally agreed minimum tax rate is 25% and a German company has an effective tax rate of 10% on the profits it records in Singapore, then Germany would impose an additional 15% tax on these profits to arrive at an effective rate of 25%.

Fundraising project.

Jeff -formerly, Mr Jeff- started its expansion with franchises in 2018. It had been born as an app in 2015: like the Uber or Glovo on duty that picks up your clothes at home and returns them to you clean and ironed. «Jeff wants to be your day-to-day service,» Gomez summed up in an interview in 2019. «We started with laundry and used the franchise model to scale.»

The main argument of the complainants is the lack of marketing, with examples showing that there were months when the app generated revenues of 24 sad euros to a store but charged royalties of almost 700.

This is explained by someone who came in early, when the company did not charge royalties but a percentage of turnover. «They promised things that weren’t true. And they figured it out right away. Since they had money [from investment rounds], they took on the logistics and gave us bonuses. On paper they were for meeting quality conditions, but in reality it was for sucking up to them and to keep us quiet,» says this person, who with that extra got to cover expenses. «They lowered prices, so even with 30 orders a day, it wasn’t a profitable business.