Are considered vital attributes of healthy tax systems; and, while referring to the European Union Member States, it should be pointed out that the European Commission’s agenda focuses on awareness in terms of international reporting, creating robust financial systems and helping the European Union Member States to cope better and more efficiently and successfully with the provocations of the COVID-19 pandemic shock as well as the COVID-19 crisis.
Published in Chapter:
Environmental, Social, and Corporate Governance by Avoiding Management Bias and Tax Minimization: Reaching a General Consensus Regarding a Minimum Global Tax Rate
Cristina Raluca Gh. Popescu (University of Bucharest, Romania & The Bucharest University of Economic Studies, Romania & The National Institute for Research and Development in Environmental Protection (INCDPM), Romania, & National Research and Development Institute for Gas Turbines (COMOTI), Romania)
Copyright: © 2022
|Pages: 39
DOI: 10.4018/978-1-6684-3374-4.ch006
Abstract
The COVID-19 pandemic shock made nations worldwide seek support in different forms of international cooperation, realizing that strength is derived from countries' capacities to unite their forces and act together in times of crisis. Faced with the perspective of the COVID-19 crisis consequences, states have to adapt, focusing on implementation of robust managerial strategies and concentrating attention on ensuring strong financial systems. Given that, on the one hand, in the attempt to provide a healthy life and sustainable development, a balance needs to be established in terms of environmental, social, and corporate governance; and, on the other hand, in the quest to guarantee fair and transparent tax systems, a minimum global tax rate should be implemented. Likewise, in the new economy, the knowledge-based economy, the digitalized economy, business organizations should act in the spirit of sustainability while centering their efforts on efficiency, productivity, profitability, and performance and benefiting from the impressive advantages provided by intangible assets.