RIYADH: Failure to reach a global deal on where and how much to tax digital giants like Google, Amazon or Facebook would result in many digital tax regimes emerging all over the world, France's Finance Minister said on Sunday.
"For the first tine there is wide consensus among the G20 members on the necessity of having a new international taxation system," Le Maire said. "And we also have to address the key question of minimum taxation and the risk of having a race to the bottom on taxation," he said.France has already adopted its own digital tax, but suspended it until the end of the year to give the G20 time to work out a global deal to which all countries would subscribe.
"There is a consensus to build a solution by the end of 2020," Le Maire said, noting the alternative - no agreement - would create a proliferation of different tax systems making life more difficult for companies.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
No global digital tax by end-2020 would mean digital tax chaos: FranceFailure to reach a global deal on where and how much to tax digital giants like Google, Amazon or Facebook would result in many digital tax ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Macron says 'not sure' EU-UK trade deal possible before end of 2020French President Emmanuel Macron on Saturday said he was 'not sure' it would be possible for the European Union and Britain to reach a trade deal by the end of the year. Britain and the EU are about to embark on negotiations aiming to hammer out a trade agreement by the time the post-Brexit
Source: YahooSG - 🏆 3. / 71 Read more »
Macron says 'not sure' EU-UK trade deal possible before end of 2020French President Emmanuel Macron on Saturday said he was 'not sure' it would be possible for the European Union and Britain to reach a trade deal ...
Source: ChannelNewsAsia - 🏆 6. / 66 Read more »
Tokyo 2020 postpones volunteer training over virus fears'As part of efforts to prevent the spread of infection of the novel coronavirus, we have decided to postpone training scheduled from tomorrow.'
Source: BusinessTimes - 🏆 15. / 51 Read more »
Hawkers welcome Budget 2020 support measures during coronavirus outbreak, but unsure about long-term adequacySINGAPORE - Hawkers have welcomed the Government's move to introduce rental waivers in the wake of the Covid-19 outbreak, although a number hope more will be done to offset the drop in business caused by smaller crowds.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »
Tokyo 2020 postpones volunteer training over coronavirus fearsTOKYO (AFP) - Tokyo 2020 Olympic organisers on Saturday (Feb 22) postponed training for their army of volunteers due to the coronavirus outbreak but reiterated that there was 'no consideration' of cancelling the Games.. Read more at straitstimes.com.
Source: The Straits Times - 🏆 8. / 63 Read more »