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Plans for a major rewriting of international tax rules unveiled on Tuesday could eliminate structures that have allowed companies like Google Inc and Inc to shave billions of dollars off their tax bills. The Organisation for Economic Co-operation and Development (OECD) announced a series of measures that, if implemented by members, could stop companies from employing many commonly-used practices to shift profits into tax havens.

France''s crisis-hit government on Tuesday narrowly won a crunch parliamentary vote of confidence in its economic reform path, in a rare respite for the deeply unpopular President Francois Hollande. French deputies voted 269 to 244 in favour of the government''s policies, after an impassioned speech by Prime Minister Manuel Valls, who vowed to press ahead with controversial spending cuts and tax breaks for companies.
Bosnian police on Wednesday arrested 11 people including two regional ministers over multi-million-euro tax fraud that authorities call one of the most "complex organised criminal cases" in the nation's history. "Eleven people were arrested while three more suspects are still being questioned," police spokeswoman Kristina Jozic told journalists.
Malaysia will exempt crude palm oil from export taxes in September and October to reduce stockpiles of the tropical oil after prices fell to five-year lows. The exemption from duties, which had been set at 4.5 percent for September, is expected to increase palm oil exports by 600,000 tonnes over the two months and reduce stock levels to 1.6 million tonnes by the end of the year, the commodities ministry said in a statement.
Greek Prime Minister Antonis Samaras on Saturday announced cuts to unpopular taxes introduced at the height of the country's debt crisis, in a bid to show the nation that over four years of austerity are finally nearing an end. The Greek premier, whose conservative party is trailing in opinion polls behind the anti-austerity, radical leftist Syriza party, said a heating oil consumption tax would be cut by 30 percent and a "solidarity tax" would also be reduced.
Switzerland said Monday that it had completed a programme to pay Britain and Austria hundreds of millions of euros in settlements for past tax-dodging by their citizens.
The French government offered tax breaks to property owners on Friday in its second set of measures in three months to reverse a homebuilding slump that is holding back growth in the euro zone's second-biggest economy. Braving steady criticism from the left that he is too pro-business, Prime Minister Manuel Valls said the government would also limit plans for rent caps, which builders and property developers say has scared off investors.


Index Closing Chg%
Arrow DJIA 17,265.99 0.64
Arrow Nasdaq 4,593.43 0.68
Arrow S&P 2,011.36 0.49
Arrow FTSE 6,819.29 0.57
Arrow DAX 9,798.13 1.41
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Foreign Debt $61.805bn
Per Cap Income $1,386
GDP Growth 4.14%
Average CPI 8.6%
Trade Balance $-1.434 bln
Exports $1.930 bln
Imports $3.364 bln
WeeklySeptember 18, 2014
Reserves $13.525 bln