• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar

Republica Press

Your Business & Political News Source

REPUBLICA PRESS
Your Business & Political News Source

  • Home
  • BUSINESS
  • MONEY
  • POLITICS
  • REAL ESTATE
  • SCIENCE/TECH
  • US
  • WORLD
  • VIDEOS

Finance Ministers Meet in Venice to Finalize Global Tax Agreement

by

“I think first, this is an economic surrender that other countries are glad to go along with, as long as America is making itself that uncompetitive,” Mr. Brady said. “And secondly, I think there are too many competing interests here for them to finalize a deal that would be agreeable to Congress.”

Other nations must also determine how to turn their commitments into domestic law.

The mechanics of changing how the largest and most profitable companies are taxed, and of making exceptions for financial services, oil and gas businesses, will be central to the discussions. There are already concerns that carve-outs could lead to new tax loopholes.

Ms. Yellen, who is making her second international trip as Treasury secretary, will be holding bilateral meetings with many of her counterparts, including officials from Saudi Arabia, Japan, Turkey and Argentina. China, which signed on to the global minimum tax framework, is not expected to send officials to the gathering of finance ministers and central bank governors, so there will be no discussions between the world’s two largest economic powers.

Mr. Saint-Amans expressed optimism about the trajectory of the tax negotiations, which were on life support during the final year of the Trump administration, and attributed that largely to the new diplomatic approach from the United States.

“It took a U.S. election, and some work at the O.E.C.D.,” he said.

During the panel discussion on tax and climate change, Ms. Yellen’s counterparts said they appreciated the spirit of cooperation from the United States.

Chrystia Freeland, Canada’s deputy prime minister and finance minister, said having the United States back at the table working to combat climate change was “welcome” and “transformative.” Mr. Le Maire thanked the Biden administration for rejoining the Paris Agreement.

“The U.S. is back,” he said.

Jim Tankersley contributed reporting from Washington, andLiz Alderman from Paris.

View Source

>>> Don’t Miss Today’s BEST Amazon Deals! <<<<

Filed Under: BUSINESS Tagged With: Amazon.com Inc, Argentina, Biden administration, Biden, Joseph R Jr, China, Climate change, Corporate Taxes, Federal Taxes (US), Gas, Group of Twenty, International Trade and World Market, Japan, Law, Oil, Organization for Economic Cooperation and Development, Saudi Arabia, Tax Shelters, Trump administration, Turkey, United States, United States Economy, Venice (Italy), Washington, Yellen, Janet L

Primary Sidebar

More to See

AHF LA Times Ad: ‘City Hall: Save the Clark Hotel’

LOS ANGELES--(BUSINESS WIRE)--AHF will run another full-page, full-color housing advocacy ad targeting Los Angeles elected and city officials, which … [Read More...] about AHF LA Times Ad: ‘City Hall: Save the Clark Hotel’

People are spending lots of money on makeup and beauty, and retailers are cashing in

Target has added new brands to its beauty department. At a growing number of stores, it also has mini Ulta Beauty shops with prestige brands.Melissa … [Read More...] about People are spending lots of money on makeup and beauty, and retailers are cashing in

The Housing Shortage Is About To Get Worse—Don’t Expect Builders To Save the Day

Just a few months ago, builders couldn't put homes up fast enough to appease the hordes of eager buyers. They boasted about lengthy waitlists, even … [Read More...] about The Housing Shortage Is About To Get Worse—Don’t Expect Builders To Save the Day

Copyright © 2022 · Republica Press · Log in · As an Amazon Associate we earn from qualifying purchases.

Terms and Conditions - Privacy Policy