The global minimum tax has its share of sceptics who foresee higher taxes and other economic hits from the scheme aimed at large multinationals that avoid paying taxes by shifting profits to tax-friendly countries.
Global Corporate Minimum Tax Skeptics Say ‘Cartel’ Will Lead to Higher Taxes
Global Corporate Minimum Tax Sceptics Say ‘Cartel’ Will Lead to Higher Taxes
The global minimum tax has its share of sceptics who foresee higher taxes and other economic hits from the scheme aimed at large multinationals that avoid paying taxes by shifting profits to tax-friendly countries.
G7 Agrees on Global Minimum Corporate Tax, But Details Need Working Out
The world’s leading industrial nations reached an accord on June 5 to set a global minimum tax rate, in an effort to discourage multinational corporations from shifting profits to low-tax countries. While the accord is a significant breakthrough, for those seeking international agreement on corporate taxes, there is more work ahead. Group of Seven (G-7) nations…
G-7 Agrees on Global Minimum Corporate Tax, But Details Need Working Out
The world’s leading industrial nations reached an accord on June 5 to set a global minimum tax rate, in an effort to discourage multinational corporations from shifting profits to low-tax countries. While the accord is a significant breakthrough for those seeking international agreement on corporate taxes, there’s more work ahead. The Group of Seven (G-7) nations…
15 Percent Global Corporate Tax ‘Very Significant Step Forward’: OECD Official
A top official at the Organization for Economic Cooperation and Development (OECD), which is hosting talks on a global corporate tax pushed by the Biden administration, said a 15 percent minimum rate would be a “very significant step forward” that still leaves countries with enough scope to compete to attract multinationals to their jurisdictions. OECD Secretary-General…
Australians Taxed Third-Highest Across OECD Countries: Report
Australia’s income tax burden among OECD countries is the third-highest in the world, just behind Denmark and Iceland, according to a report by the Organisation for Economic Co-operation and Development (OECD). The report published on April 29 comes as Treasurer Josh Frydenberg delivered his pre-budget speech in which he outlined the nation’s focus on job creation…
Former Aussie Finance Minister Picked to Head Up International Economic Corporation, OECD
Prime Minister Scott Morrison has welcomed the OECD picking former Australian finance minister Mathias Cormann as its new head. Mathias Cormann has been selected as the new head of the Organisation for Economic Co-operation and Development (OECD) in a move Prime Minister Scott Morrison calls a “recognition of Australia’s global agency.” Cormann, Australia’s longest-serving finance…
Debate Heats Up Over How Countries Tax Big Tech Companies
FRANKFURT, Germany—An international debate over how countries tax big U.S. technology companies such as Google, Amazon, and Facebook is heating up, presenting a challenge for President Joe Biden’s new administration. A mid-year deadline is on the horizon for talks about a global deal to defuse trade disputes with France and other countries that are imposing…
Former Liberal Finance Minister Bill Morneau Drops out of OECD Campaign
OTTAWA—Former finance minister Bill Morneau says he is dropping out of the race to become secretary-general of the Organization for Economic Co-operation and Development. In a statement on Twitter today, Morneau says he did not have enough support from member countries to make it to the third round of the campaign. Morneau, who became Trudeau’s…
Former Minister For Finance Mattias Cormann Prime Candidate For OCED Post
Former Senator Mathias Cormann has emerged as one of the prime candidates to head up the Organisation for Economic Co-operation and Development (OECD) after playing a pivotal role in Australia’s COVID-19 response as federal Finance Minister. According to reports by the Sunday Morning Herald on Jan. 14, Cormann now stands alongside two other top contenders…
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