U.S. President Joe Biden’s administration gave the stalled talks fresh impetus by proposing a minimum global corporation tax rate of 15 per cent, above the level in countries such as Ireland but below the lowest level in the G7.Germany and France also welcomed the agreement, although French Finance Minister Bruno Le Maire said he would fight for a higher global minimum corporate tax rate than 15 per cent, which he described as a “starting point”.
The agreement does not make clear exactly which businesses will be covered by the rules, referring only to “the largest and most profitable multinational enterprises”.European countries have feared that a business such as Amazon could slip through the net as it reports lower profit margins than most other well-known technology companies.
We will provide for appropriate coordination between the application of the new international tax rules and the removal of all Digital Services Taxes, and other relevant similar measures, on all companies.We support moving towards mandatory climate-related financial disclosures that provide consistent and decision-useful information for market participants and that are based on the Task Force on Climate-related Financial Disclosures framework, in line with domestic regulatory frameworks.
G7 is no longer representing world.there are more countries having more population and bigger economy.G20 or new organization including practically competent countries can make such grobal decisions as this corporate tax.G7 needs reshuffling.
Which gets passed onto the end user.
Minister Freeland sports the Canadian fashion accessory for 2021 and beyond!
If corporate and elite's power (often the same) is not broken, we as humanity will be finished in less what Stephen Hawking gave us (100 years), if we do not change our ways. This power is driving us to extinction motivated by profit beyond seen ever. Even if we have to live 1/2
So why is cafreeland the only member masked? Did she not receive her 2nddose before traveling to the G7Summit Is Canada declaring itself masked for perpetuity Real question. COVID19 VaccinesWork RecoveryPlan
Well what can I say, only repeat Lenin “the ghost of communist style socialism is wondering around’ ..governments’’..they want more power more money more control over wealth distribution than is NOT created by them-business does it💰 not about being more efficient and effective
What happened to sovereignty?
Some corporate lawyer somewhere in it's highrise office just found a loophole to avoid this pesky tax hike business. My bet is nothing changes for the people with all the money.
Canada's finance minister the only one wearing a mask. As her boss likes to say 'Canada is back!'...way back.
Did you notice who the only person in a mask is?
Did the Canadian gov officials attending comply with the UK quarantine requirements? didnt they fly out yesterday?
Historic! Meanwhile Back at the Cottage ❄️🎈🤡🧦😜🇨🇦
The fed Corp tax rate is already 15% before one adds the provincial tax rate (i.e., Ontario Corp tax rate is 11.5% or 26.5% in total). So , big change. The real challenge is the income base and when a corp is subject to tax in a host country
How about equal pay for their employees globally? With same benefits, cuts, etc? G7
So our rates are going to go up to cover the extra cost and the government will end up bailing out these companies yet again with that money they are taking. Seems the savings don't get past to the consumer but the governments do seem to be getting richer.