Analysis: G7 Russian oil price cap evolves from revenue squeeze to market anchor
When U.S. officials first floated the idea of capping Russian oil export prices in response to a planned European embargo in March, they pledged to squeeze revenues to Russia’s war machine, while avoiding a devastating oil price spike.
Oil prices rise as supply uncertainty mounts
Oil prices rose on Monday as Iranian nuclear talks appeared to hit obstacles and an embargo on Russian oil shipments loomed, with tight supply struggling to meet still robust demand.
Tech giants and tax havens targeted by historic G7 deal
The United States, Britain and other large, rich nations reached a landmark deal on Saturday to squeeze more money out of multinational companies such as Amazon and Google and reduce their incentive to shift profits to low-tax offshore havens. Hundreds of billions of dollars could flow into the coffers of governments left cash-strapped by the […]
Explainer: What is a global minimum tax and what will it mean?
Finance Ministers from the Group of Seven (G7) rich nations reached a landmark accord on Saturday backing the creation of a global minimum corporate tax rate of at least 15%, an agreement that could then form the basis of a worldwide deal.
Ireland confident G7 tax deal won’t dent multinational investment
Ireland’s finance minister said he remained confident the country’s low-tax economy would continue to attract multinational investment and jobs even as an overhaul of global corporation tax rules moved a major step closer on Saturday.
EXCLUSIVE UK’s Sunak says U.S. plan to break global tax deadlock could work
British finance minister Rishi Sunak said a U.S. proposal to focus on the world’s 100 biggest and most profitable firms as part of a global tax deal could work but he insisted that big tech firms must pay more tax in countries where they operate.
Analysis: Planned global tax raid catches ethical investor zeitgeist
A global tax crackdown on multinationals has the backing of some of the world’s biggest investors who say that using low-tax jurisdictions falls foul of the tenets they have committed to.
EXCLUSIVE G7 to back minimum global corporate tax and support economy – draft
Finance ministers from the group of seven rich nations (G7) will vow this week to support their economies as they emerge from the pandemic and reach an “ambitious” deal on a minimum global corporate tax in July, a draft communique showed.
U.S. Treasury deputy chief sees G7 backing for 15%-plus global minimum tax
U.S. Treasury Deputy Secretary Wally Adeyemo said he expects strong backing from G7 peers for Washington’s proposed 15%-plus global minimum corporate tax, which should help solidify support in the U.S. Congress for domestic corporate tax legislation.
China condemns G7 statement censuring Beijing, supporting Taiwan
China condemned on Thursday a joint statement by G7 foreign ministers that expressed support for Chinese-claimed Taiwan and cast Beijing as a bully, saying it was a gross interference in China’s internal affairs. G7 foreign ministers said in a communique after a London summit that China was guilty of human rights abuses and of using its […]
