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.
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.
The OECD’s conundrum with the real-time tax reporting framework
Despite the fact that many European countries are considering real-time reporting, which has proven to be quite useful in preventing fraudulent and suspicious transactions as well as tax evasion, the process of bridging the VAT gap between the expected VAT and the VAT collection is relatively slow.
