News Formal

Technology tax set to dominate Group of Seven finance ministers meeting

  • 📰 BDliveSA
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 63%

South Africa News News

International effort under way to update rules to rein in multinationals gaming the system by paying in low-tax rate countries

Paris — A row over taxing technology giants is set to dominate a meeting of Group of Seven finance ministers near Paris this week, with the world’s leading industrialised nations already riven by disruptive US trade policies.

The French measure does not specifically target US internet giants, but it is commonly called the Gafa tax, an acronym for Google, Amazon, Facebook and Apple. Washington and Beijing have lashed out at each other with punitive tariffs on about $360bn in goods in a trade dispute that has roiled global financial markets and undermined business confidence.

“It won’t be possible to set a rate at this meeting,” said the official. “It’s premature. We need to get agreement on the principle first.”

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in ZA

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Eskom group treasurer resigns | IOL Business ReportEskom group treasurer Andre Pillay has resigned after close to two years in the post, the troubled power utility said on Monday.
Source: IOL - 🏆 46. / 51 Read more »

Eskom Group Treasurer Andre Pillay quits - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.Eskom's Group Treasurer Andre Pillay has become the latest high-profile resignation from the struggling power utility.
Source: SABC News Online - 🏆 32. / 51 Read more »