Recents in Beach

This week, the G20 ministers will vote on a global tax reform package

This week, the G20 ministers will vote on a global tax reform package



Now moving on and all eyes are on this week's meetings in venice austria where finance ministers of g20 nations will meet to decide on global minimum corporate tax rate of 15 the deal is touted as most important international tax deal in a century but experts say a long road strewn with potential political pitfalls lies ahead for countries seeking to end a race to bottom on international corporate tax rate nearly all 139 nations have backed plans for new rules on where companies profits are taxed and a rate of at least 15 percent to be charged with inc barely dry on the agreement jublian politicians in higher text countries declared that what french finance minister lamar turned the most important global tax team in the century it had ended tax competition among governments now g20 finance ministers are expected to endorse the deal at meetings on friday and saturday in venice which could add momentum to a global initiative that in june prompted g7 ministers to back a clamp down on tax havens including british virgin islands the new rules emerging from the oecd pact are tentatively scheduled to take effect in 2023 but for that to happen countries must hammer out remaining details october october this year so tax codes can be revised next year and some signatories including india and switzerland have since expressed reservations there that suggests a 2023 implementation could be optimistic given that many countries took years to ratify an earlier less far-reaching amendment to global tax treaties.

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