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.
EU reaches deal on tax transparency for multinational firms
European Union government and parliament negotiators reached a deal on Tuesday on rules that will force large multinational companies to disclose how much revenue and tax they pay in the 27-nation bloc and how much in countries considered tax havens by the EU.
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.
G7 is close to agreement on taxation of world’s largest companies – FT
Group of Seven countries are close to reaching agreement on the corporate taxation of multinationals, clearing the way for a global deal later in the year, the Financial Times reported.
U.S. Treasury floats global corporate tax of at least 15%
The U.S. Treasury Department on Thursday offered to accept a global minimum corporate tax of at least 15% during international negotiations, a rate significantly below its proposed 21% minimum for U.S. multinational firms.
Indonesia considers plan to tax trade in cryptocurrencies
Indonesia is considering a plan to tax the trading of cryptocurrencies after a surge in popularity among local investors, a tax official said on Tuesday. The Southeast Asian country has been seeking to shore up state revenues amid the coronavirus pandemic, though Neilmaldrin Noor, a spokesman at Indonesia’s tax office, said a tax scheme for […]
Biden pleads for unity, warns of Chinese threat, in speech to Congress
President Joe Biden proposed a sweeping new $1.8 trillion plan in a speech to a joint session of Congress on Wednesday, pleading with Republican lawmakers to work with him on divisive issues and to meet the stiff competition posed by China.
White House says capital gains tax would hit 0.3% of taxpayers
President Joe Biden’s forthcoming capital gains tax hike proposal would affect only a 0.3% slice of U.S. taxpayers, a top economic aide said on Monday. Biden is set this week to propose nearly doubling taxes on capital gains to 39.6% for people earning more than $1 million, Reuters has reported, in what would be the […]
