Skip to content
Northwest Trail

Northwest Trail

  • Starlink would be brought to structures in harsher regions through a fixed Earth station News
  • PCs that don’t support Windows 11 have a watermark on their desktops that’s difficult to remove News
  • Automotive Brake Disc Market Overview 2023-2030 Automobile
  • Alternative Fuel Vehicle Market Size Analysis 2024 Business
  • As a result of a birth injury, a mother decided to start a parenting podcast Health
  • A New Generation of Intelligent Virtual Assistants Is Taking the World By Storm News
  • Carbon emissions might be reduced by using a new magnetic material in refrigerators Business
  • United States might not be as independent as Donald Trump perceives when it comes to oil News

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  TRAI Slashes Rate Of Mobile Number Portability By 79%

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  Fixes for a bug in iCloud synchronisation have been released by Apple

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

  • Learn about the various aspects of network marketing Business
  • Fixes for a bug in iCloud synchronisation have been released by Apple Internet
  • Regional Language Consumers To Be 75% Of Internet Consumer Base By The End Of 2021 Internet
  • Samsung Smart TVs will now include Apple iTunes. Business
  • 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
  • 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
  • The death of a vibrio sufferer has been reported by authorities in Florida. Health
  • The “UK Aerosol Recycling Initiative” was introduced by Alupro Business
  • Apple iPhones Gets Discounts On Valentine’s Day News
  • Consumers are willing to spend extra for sustainable products, according to a new study by Eviosys News
  • Here’s How You Can Trace A Plumbing Leak News
  • All of the New Features in Chrome 98 that are worth experimenting with Internet
  • Tooth Regeneration Market Dynamics: Key Drivers and Challenges 2024 Health
  • Audi Chairman Trashes The Rumor Of CEO Stadler To Be Fired Automobile

Copyright © 2025 Northwest Trail.

Powered by PressBook News WordPress theme