corporate taxes

    • IMF backs Biden’s plans for higher taxes and surcharges for the rich

      IMF backs Biden’s plans for higher taxes and surcharges for the rich

      The International Monetary Fund expressed support for the proposals of US President Joe Biden to increase corporate taxes and go further by agreeing a global minimum tax, Reuters reported. The Fund also noted that it was fair enough to impose higher taxes on wealthy firms and rich individuals who cashed big profits in pandemic and therefore can afford to pay more.

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    • Jeff Bezos backs Biden for higher taxes for US companies

      Jeff Bezos backs Biden for higher taxes for US companies

      Amazon founder and majority shareholder Jeff Bezos has vowed support for the plan of US president Joe Biden to raise taxes for US companies to compensate for record high stimulus packages, BBC reported. The comments by the world's richest man come as Biden pushes to raise the corporate rate from 21% to 28%.The rise would help pay for a massive spending plan to upgrade America's roads, ports, water pipes and internet.In his speech unveiling the proposal, Biden singled out Amazon as an example of a company that pays too little.

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    • EU loses big Starbucks tax case, wins on Fiat

      EU loses big Starbucks tax case, wins on Fiat

      An EU court on Tuesday annulled an order by Brussels that Starbucks pay €30m euros to the Netherlands, saying regulators had failed to demonstrate it received illegal state aid. In a separate decision, however, the same court said Fiat must pay roughly the same amount to Luxembourg, upholding a similar EU order from 2015, AFP reports. The cases can now be appealed at the EU's highest court, the European Court of Justice.

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    • EU launches in-depth investigation into Belgian tax benefits

      EU launches in-depth investigation into Belgian tax benefits

      The European Commission has opened separate in-depth investigations to assess whether “excess profit” tax rulings granted by Belgium to 39 multinational companies gave those companies an unfair advantage over their competitors, in breach of EU State aid rules. Today's opening decisions follow the General Court's February 2019 annulment of the Commission's January 2016 decision concluding that the same tax rulings formed part of a Belgian aid scheme that was illegal under EU State aid rules.

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    • G7 agrees on tax rules reform

      G7 agrees on tax rules reform

      The finance ministers of G7 and central bank governors agreed last week that digital giants such as Facebook, Google, Amazon or Apple should be taxed in every country they make money in, even without being physically present there.

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