Summary
[Biden and other G7 leaders will publicly support at least 15% of the world’s lowest corporate tax]US President Biden and other G7 leaders will publicly support at least 15% of the world’s lowest corporate tax on Friday. The leaders of the Group of Seven nations will also announce a plan to replace the digital service tax for the largest technology company in the United States with a new tax plan. (Zhitong Finance Network)
US President Biden and other G7 leaders will publicly support at least 15% of the world’s lowest corporate tax on Friday. The leaders of the Group of Seven nations will also announce a plan to replace the digital service tax for the largest technology company in the United States with a new tax plan.
Biden and other G7 leaders will also announce that they are “actively considering” expanding internationalMonetary FundOrganization’s special drawing rights supply, which is an internationalcurrencyfundAn internal currency of the organization that can be used by low-income countries.
According to a profile from the White House, this plan aims to expand international development financing to poor countries and help them purchase the new crown vaccine. The White House also stated that the leaders of the Group of Seven countries will agree to “continue to provide policy support for the global economy within the necessary period of time to create a strong, balanced and inclusive economic recovery.”
Once the leaders of the G7 countries pass the proposal for the lowest corporate tax in the world, the next step will be to win the support of the G20 countries. Ministry of Finance of the Group of 20ChanghecentralbankThe governor is scheduled to meet in Venice, Italy in July. It is expected that both the IMF’s financing recommendations and the international taxation plan will be important items on the agenda.
(Source: Zhitong Finance Network)
.