The G7 has decided to exempt US multinationals from paying a minimum tax of 15%
The group of countries representing the world's seven major economies has secured an agreement after the US tax system was reviewed and the White House agreed to remove clause 89 of its tax law, allowing the White House to retaliate against those who decided to tax US multinationals.
The G7 countries have agreed to exempt multinational companies in the United States from paying the minimum rate of 15% in corporate tax under the Organisation for Economic Cooperation and Development (OECD) in 2021.
"After discussions on this issue (...) we all understand that a parallel system can ensure significant progress made by the jurisdictions in the Inclusive Framework to address the erosion of the tax base and the distribution of profits and to provide greater stability and certainty to the international tax system in the future," says the G7 communiqué.
US Treasury Secretary Scott Bessent announced this Friday that he will hold the OECD's Chapter 2 meeting. The axis tax "will not apply to American companies," and he thanked his G7 counterparts for their "help in achieving this historic result."
The group of countries representing the world's seven major economies has claimed to have reached an agreement after the US tax system was reviewed and the White House agreed to remove clause 89 of its tax law. This will allow the White House to retaliate against those who decided to tax US multinationals.
"The establishment of a bilateral cooperation system will facilitate further progress in stabilizing the international tax system, including constructive dialogue on the taxation of the digital economy and the safeguarding of the fiscal sovereignty of all countries," the statement notes.
The G7, in addition to the US, consists of Germany, the United Kingdom, France, Italy, Japan and Canada, which holds the rotating presidency in these Momsgarbi.
You might like
Starmer has described it as "unacceptable" that information about Mandelson's appointment should not be disclosed to him beforehand
As he has done in previous sessions, he has taken "full responsibility" for Mandelson's election and has apologized to Epstein's victims. "I clearly failed them with my decision."
Israel and Lebanon will meet for the second time on Thursday in Washington
A White House spokesperson has reported that Israel and Lebanon will begin a second round of negotiations on 23 April, which will be resumed by Washington.
In the absence of a majority to overturn the Association Agreement, Kallas advocates trade measures against Israel
Last September the European Commission proposed the suspension of certain trading points of the agreement, a decision which requires only a qualified majority and does not constitute a complete breach of the treaty.
Garamendi has warned that the ACV has a "problem" with investments: "Less investment is made than in other communities."
The president of the Spanish employers has pointed out that the fact that about "half of all strikes" take place in the state in the ACV "does not help much" in attracting investment.
Iran accuses the US of violating the ceasefire after attacking a ship in Ormuz
Tehran denounces an act of "maritime piracy" and responds with drones. Tension and mistrust are growing on the verge of talks for a peace agreement.
Rumen Radev has won the Bulgarian elections, according to the first results
Radev seems likely to form a stable government, ending years of political instability. Progressive Bulgaria has won between 38% and 40% of the vote, according to the first data, gaining broad support from the other parties.
Eight children between the ages of one and fourteen have been killed in a shooting in Louisiana
According to the police, the incident was "a domestic quarrel." At first, the alleged perpetrator of the shooting fled, but was captured and later killed by police officers.
Iran says it is making progress in negotiations with the US, but the final agreement is still a long way off
Iranian President Masud Pezeshkian has replied to Trump that he cannot deprive him of his "right" to develop nuclear power.
Iran has again imposed restrictions on the Strait of Hormuz
Tehran warned today that it would close the strait again if the US did not lift the blockade on Iranian ports. US President Donal Trump has also failed to defuse tension and has warned that if he fails to reach an agreement with Iran by Wednesday, he will "start firing bombs again."
The EU says the opening of Ormuz is good news but insists that travel must be free
"The imposition of tolls for transit would set a dangerous precedent," said the European Union's High Representative for Foreign Affairs, Kaja Kallas. On the other hand, in the context of the crisis and convened by France and the United Kingdom, 50 countries and international organizations have met in Paris. They have announced the launch of a "neutral" maritime mission to "assist and protect" ships passing through the Persian Gulf.