The US has proposed to sign an agreement on a global corporate minimum tax of 21%, with the aim of achieving a fair distribution of taxes between the jurisdictions where multinationals are based and the countries where their clients actually are. Europe’s reaction to the proposal has been positive. The aim is to sign an agreement at the G20 summit in July.
Fernando G. Urbaneja | In France, president Macron, making good arguments, although not explaining them enough, wanted to raise taxes on fuel and millions of citizens forced him to back down. In Ecuador, President Lenin Moreno has gone through such a trance for the same reason. In Chile, President Piñera is on the verge of eviction for the attempt to raise urban transport rates.
LONDON | By Kyohei Morita and Yuichiro Nagai at Barclays | The Abe administration is currently aiming to reach a Cabinet decision on its new growth strategy and “big bone” economic and fiscal reform plans around end-June. The discussions are far-reaching, but from the perspective of market participants, we believe there are four near-term focal points: 1) corporate taxes; 2) labor market reforms; 3) reforms to the pension system, including the Government Pension Investment Fund (GPIF); and 4) special national strategy zones. Here we focus on corporate taxes, likely the only subject of concrete discussion for the markets in June.
What is threatening the Spanish pension system, Francisco Martín Seco says, is not a longer life expectancy or the population pyramid but policies that drive the entire economy into a permanent recession, like reforms to make the tax system more regressive.
A curated selection of links we hope can enlighten us all; some come from our corner, some do from other corners of the net. And as always, our comment widgets are anxious to get your suggestions. How a company becomes a listed company like, let’s say, Facebook Can London pay for the Olympic Games? We give you Mr Hollande Don’t miss how much Africa is growing Hollande tax makes London look…
NEW YORK | “Cutting alone really doesn’t do it, and that’s why I’m linking the serious budget reductions — real increase to austerity — with a plea to the voters: please increase taxes temporarily on the most affluent and everyone else with a quarter of a cent sales tax,” California governor Jerry Brown said in releasing his $91 billion general fund budget plan this week. These are not easy days for…
LONDON | Budget Battle began Wednesday after midday in the House of Commons at the rhythm of Hollywood action blockbuster-like slogans, with which chancellor George Osborne wrapped his delivery speech. The Coalition government aimed at convincing Britons in and out the Parliament that it will be able to reduce the deficit while supporting growth. “Britain is going to earn its way in the world,” Osborne shouted at the traditional belligerent level…
NEW YORK | One in seven Americans gets help from the federal government to feed themselves and their families. That is 46 million people, many of whom didn’t need help before the crisis. The current situation now leaves them no choice: their business collapsed, they were part of a company that filed for bankruptcy, they lost their home, bills started to pile up… there are many reasons to sign school-age children…
NEW YORK | In his fourth speech in front of the nation, president Barack Obama addressed the financial crisis and pledged to fight for economic fairness. In the middle of the race to the November election, the president couldn’t find a better moment to speak about inequality. Earlier on Tuesday, Republican presidential nominee Mitt Romney –Obama’s most likely opponent, according to some experts– disclosed that he paid an effective income…
A curated selection of links we hope can enlighten us all; some come from our corner, some do from other corners of the net. And as always, our comment widgets are anxious to get your suggestions: How Greenpeace tricked big oil firm representatives into a meeting OPEC summit and worries about oversupply The last major US airlines falls Angela, please, listen I don’t want to pay taxes either! You don’t know…