While details of the agreement are still to be finalized, plans to close the multinational tax avoidance loophole globally is now a step closer.
Finance ministers from the Group of Twenty (G20) have announced their support to move ahead with overhauling the global corporate tax system.
Momentum has grown behind the US-led plans to limit the ability of multinationals such as tech giants to game the tax system to boost profits, especially at a time when economies around the world are reeling from the impact of the coronavirus outbreak
Finance ministers from wealthy G7 nations on Saturday, 5th of June 2021, endorsed a global minimum corporate tax rate of at least 15 percent, rallying behind a US-backed plan targeting tech giants and other multinationals accused of not paying enough.
Retail investors in Europe are missing out on the benefits of investing with exchange traded funds because three decades after the low-cost vehicles first came on the scene, they remain hard to buy in the region, experts say.
Even though the products can be elusive for retail investors, ETFs have become wildly popular in Europe with institutions including private banks and wealth managers, which have helped to drive assets under management in the region from $570bn five years ago to more than $1.4tn at the end of April 2021.
CEOs of the world’s most influential companies are planning what the ‘new reality’ will look like post-pandemic. The 2021 KPMG CEO Outlook Pulse Survey finds that almost half (45 percent) of global executives do not expect to see a return to a ‘normal’ course of business until sometime in 2022, as opposed to nearly one-third (31 percent) who anticipate this will happen later this year. The changes prompted by the pandemic have resulted in one-quarter (24 percent) of CEOs saying that their business model has been changed forever by the global pandemic.
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