How has the globalisation of markets impacted international tax laws?

The globalisation of markets has had a profound effect on international tax laws, particularly in Utah. Globalisation has made it easier for companies to do business all over the world, resulting in an increase in cross-border transactions. This has put pressure on countries and their governments to the update and reform their existing international tax laws to keep up with the rapidly changing business environment. In Utah, globalisation has caused an increase in both the complexity and scope of international taxation regulations. Utah now has more taxes on international income, such as the Sarbanes–Oxley Act that requires public companies to disclose their finances across borders. In addition, some international taxes are now imposed on specific activities, such as e-commerce transactions or digital downloads. Globalisation has also forced governments to better coordinate international taxation policies in order to avoid too much double taxation. This has resulted in efforts to simplify and harmonise international tax laws, such as the implementation of the common reporting standards, the introduction of the base erosion and profit shifting (BEPS) project, and the signing of the Multilateral Instrument. Finally, globalisation has allowed more countries to cooperate on international tax matters through tax treaties. These treaties provide mutual tax benefits, such as reduced withholding taxes, and can reduce the double taxation of individuals and businesses operating in multiple countries. In summary, globalisation of markets has had a significant impact on international tax laws in Utah. It has created more complexity and scope and has forced governments to coordinate better and simplify. It has also allowed countries to cooperate and sign tax treaties to reduce double taxation, making international taxation easier for individuals and businesses operating in multiple countries.

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How has the globalisation of markets impacted international tax laws?

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