Skip to content
Northwest Trail

Northwest Trail

  • Altimeters on airplanes that aren’t working cause a lot of problems, Wireless receivers will be regulated by the FCC Business
  • Top 5 Strategies For The Optimal Driving Experience Automobile
  • Global Honey Market Size And Share Overview 2024 Business
  • Unemployment numbers outpacing the government efforts News
  • Pollen season will become more unpleasant as a result of climate change News
  • Researchers have discovered a new additive material that might one day make fuel cell powered vehicles a reality Business
  • What Exactly Is Plastic Compounding And How Does It Work? Automobile
  • Hyperhidrosis Treatment Market Growth Report 2022-2028 Health

G20 Officials Call For Unified Action To Tax Leading Tech Companies

Posted on March 4, 2020 By MartinSmith

G20 officials on Saturday called for leading global economies to join hands and fight against “tax optimization” practiced by leading tech companies to lower the amount they have to pay in taxes. The Organisation for Economic Corporation and Development (OECD) has proposed a new taxation system fo leading tech companies like Facebook, Amazon, and Google, wherein they are supposed to pay taxes to the country from where they operate instead of paying taxes to the countries where they hold a subsidiary. According to OECD, the new digital tax will increase the national tax revenues by over USD 100 billion every year.

See also  Learn about the various aspects of network marketing

Leading tech companies evade taxes by running subsidiaries from countries like Ireland, where the tax norms help them save a lot of money. The setting up of a uniform global taxation system for tech companies and countering the effects of the coronavirus outbreak in China have been the two major topics of discussion in the G20 summit currently. U.S. has been reluctant to accept the new proposal or work on its own proposal of safe harbour until the presidential election later this year. Angel Gurria, head of OECD, has said that the only way forward will be to adopt a unified digital tax internationally. However, most of the European countries including Italy, Germany, and Spain are preparing their own digital tax proposal, making it all the more difficult for OECD to close this at the earliest. The unified digital tax, the OECD expects, will be in place by the end of this year.

See also  Numerous online shopping malls rigged with malware that steals credit card information

Facebook was sued last week by the Internal Revenue Service of the United States for over USD 9 billion in unpaid taxes. The lawsuit filed claims that Facebook undervalued the intellectual property it sold to one of its subsidiaries in Ireland in its tax filings.

###

Internet Tags:G20 Officials Call For Unified Action To Tax Leading Tech Companies

Post navigation

Previous Post: Dallas Federal Reserve president to see cut in oil and gas capital spending
Next Post: WHO Chief Warns About Coronavirus Cases Outside China

Related Posts

  • Make This New Year’s Resolution In Favor Of Nature Internet
  • All of the New Features in Chrome 98 that are worth experimenting with Internet
  • Numerous online shopping malls rigged with malware that steals credit card information Internet
  • Internet’s major players are hit by Log4Shell 0-day Internet
  • Sharing their strategy for attracting new clients, Peacock goes into detail Internet
  • TRAI Slashes Rate Of Mobile Number Portability By 79% Internet
  • Automobile
  • Business
  • Education
  • Entertainment
  • Finance
  • Health
  • Internet
  • News
  • Sports
  • Technology
  • Uncategorized
  • Vacuum Belt Dryer Market Forecast: Strategic Insights and Future Trends 2032
  • Vegetable-Oil-Based Cutting Fluids Market Landscape: Trends, Innovations, and Projections 2032
  • Tooth Regeneration Market Dynamics: Key Drivers and Challenges 2024
  • Construction Materials Market: Trends, Analysis, and Future Outlook 2032
  • Offshore Wind Energy Market Size Overview 2024
  • Harmful Drinking Linked to Teenage Anxiety Health
  • Researchers Find New Approaches Into The Role Of Aging In Heart Failure
    Researchers Find New Approaches Into The Role Of Aging In Heart Failure Health
  • The death of a vibrio sufferer has been reported by authorities in Florida. Health
  • According to a research, children who are permitted to watch a lot of television are more likely to be misbehaved Health
  • Nfusion’s Wheels Will Now Be Controlled By BookMyShow Entertainment
  • Vibrant Vibes: A Guide to Customizing Your Discord Color Scheme Technology
  • Exploring the Global Tactical Footwear Market 2023 Business
  • Most Likely to Host Extraterrestrial Life on Kepler 452B News

Copyright © 2025 Northwest Trail.

Powered by PressBook News WordPress theme