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Business & Finance

G20 to endorse deal on global minimum corporate tax

BRUSSELS: The world's financial leaders will endorse on July 9-10 a deal setting a global minimum corporate tax and...

Published 28 Jun, 2021 04:38am

World

Bargaining over global tax enters key stage

The deal now goes to the Organisation of Economic Co-operation and Development (OECD), which is overseeing two days of talks starting Wednesday to find a consensus among 139 countries.

Published 27 Jun, 2021 03:06pm

World

G20 to endorse OECD deal on global minimum corporate tax

G7 finance ministers agreed backed earlier this month a global minimum tax rate of at least 15% and thresholds for divvying up governments' rights to tax the profits on cross-border commerce.

Published 22 Jun, 2021 03:35pm

Pakistan

Tax reforms announced by G7 to face hurdles: ACCA

KARACHI: New tax policies announced recently by G7 communiqué will face hurdles as the proposals are yet to be...

Published 22 Jun, 2021 04:46am

Print

World economy back at pre-pandemic level: IHS Markit

PARIS: The global economy has surpassed its pre-pandemic peak, data survey firm IHS Markit said Monday, as the...

Published 22 Jun, 2021 04:46am

Business & Finance

Tax or no tax, UAE aims to remain magnet for investors

DUBAI: Tax advantages paired with a life of luxury have long drawn foreigners and multinationals to the UAE, which ...

Published 21 Jun, 2021 03:43am

Business & Finance

Tax or no tax, UAE aims to remain magnet for investors

"But even with the envisioned impact of a minimum global corporate tax, the UAE will remain a relatively low-tax environment."

Published 13 Jun, 2021 10:33am

World

One in 10 Europeans has bought a fake product

MADRID: One in every 10 Europeans has been duped into buying counterfeit products, mostly coming from Asia, a study...

Published 09 Jun, 2021 03:29am

Business & Finance

OECD sees higher world GDP growth but fears 'headwinds'

PARIS: The OECD raised its 2021 global GDP growth forecast Monday, but warned that "too many headwinds persist" as...

Published 01 Jun, 2021 04:59am

Business & Finance

OECD sees higher world GDP growth but fears 'headwinds'

The world economy will expand by 5.8 percent this year, the highest since 1973 and up from a previous estimate of 5.6 percent.

Published 31 May, 2021 05:46pm

World

OECD raises growth forecasts on vaccine rollouts, US stimulus

Buoyed by a multi-trillion-dollar stimulus plan, the US economy was seen growing 6.9% this year, the OECD said, up from a previous forecast of 6.5%. It is expected to expand 3.6% in 2022, down from a 4.0% forecast in March.

Published 31 May, 2021 02:29pm

Markets

US Treasury floats global corporate tax of at least 15%

It proposed the global minimum tax as a way to minimize the impact of a higher US tax rate on the competitiveness of American companies and deter them from shifting operations or profits to lower-tax jurisdictions.

Published 21 May, 2021 02:06pm

Opinion

Helping pandemic-hit developing countries

To help developing countries grappling with the Covid-19 crisis, official donors increased foreign aid to an ...

Published 19 May, 2021 06:00am

Business & Finance

US voices 'concern' at proposed Canadian tax on tech giants

The US representative and the Canadian minister also discussed the protracted litigation over Canadian lumber. Washington believes that this wood is sold below the market price to promote exports.

Published 18 May, 2021 09:57am

World

Chileans vote for body to rewrite dictatorship-era constitution

SANTIAGO: Chileans went to the polls Saturday to elect 155 people who will re-write the country's dictatorship-era...

Updated 16 May, 2021 10:40am

Print

Amazon wins EU court appeal

LUXEMBOURG: Amazon scored a major legal victory on Wednesday when an EU court annulled an order from the bloc's...

Published 13 May, 2021 03:10am

Print

OECD urges hiking succession tax to reverse inequality

PARIS: Rising financial inequality can be tackled and public finances improved at the same time by hiking...

Published 12 May, 2021 04:23am

Opinion

Restructuring of tax system: a blueprint

“A comprehensive strategy had been formulated to shift the gear and move to higher economic growth. I do not...

Published 07 May, 2021 04:35am

Print

ADB launches Asia Pacific Tax Hub

ISLAMABAD: The Asian Development Bank (ADB) has launched an Asia Pacific Tax Hub to create an open and inclusive...

Published 04 May, 2021 04:26am

Opinion

MLIs: Notes on underlying concepts

Multilateral Convention to Implement Tax Treaty-Related Measures to Prevent Base Erosion and Profit Shifting (BEPS)...

Published 21 Apr, 2021 03:21am

Print

Goodbye oil glut thanks to OPEC+ and recovery: IEA

PARIS: A glut in global oil markets is being worked off as the world economy begins to recover from the Covid-19...

Published 15 Apr, 2021 03:22am

Business & Finance

IMF, World Bank begin push to swap debt relief for green projects

Their heavily tourism-dependent economies have seen revenues dry up as the coronavirus pandemic severely curtails world travel.

Updated 11 Apr, 2021 05:52pm

Print

G20 extends debt-servicing freeze for poorer nations

ROME: World finance chiefs agreed on Wednesday to boost reserves at the International Monetary Fund by $650 billion...

Published 08 Apr, 2021 04:10am

Print

FBR enforces convention to prevent profit shifting

ISLAMABAD: The Federal Board of Revenue (FBR) has enforced from April 1, 2021 multinational convention to implement...

Published 03 Apr, 2021 03:41am

World

UN chief calls for more pandemic debt relief for poorer nations

UNITED NATIONS: UN Secretary-General Antonio Guterres called Monday for greater debt relief and new creative...

Published 31 Mar, 2021 05:42am

Business & Finance

US trade chief readies tariffs against six countries over digital taxes

WASHINGTON: US Trade Representative Katherine Tai on Friday said she was maintaining the threat of US tariffs on...

Published 31 Mar, 2021 05:42am

Markets

Swiss Re to phase out reinsuring coal by 2040

The announcement comes as insurers face climate-related losses and get to grips with climate risk in their portfolios.
As an interim step, Swiss Re said it would phase out coal exposure by 2030 for those countries belonging to the Organisation for Economic Co-operation and Development (OECD).

Published 16 Mar, 2021 09:38pm

Business & Finance

Canadian telecoms giant Rogers buys up rival Shaw for Can$26bn

That is 70 percent higher than the recent share price, Rogers said in a joint statement with its rival.

Published 16 Mar, 2021 10:31am

Print

Australia’s former finance minister named OECD chief

PARIS: Australian former finance minister Mathias Cormann was elected Friday as the new head of the influential...

Published 13 Mar, 2021 04:28am

BR Research

On global digital tax

For years now, developed countries have been divided over how to regulate the big tech. Whether and how to tax...

Published 12 Mar, 2021 07:40am