The G7 has once again put multinationals’ profits over the interests of people

Acceding to US demands to exempt its companies from an agreed global tax deal is morally and financially indefensibleThe US Treasury just made a deal with the other G7 countries that global minimum taxes that were already agreed upon will not apply to American companies. The G7 governments caved under intense pressure from President Donald Trump and lobbying from multinationals in Washington, London, Brussels, and beyond – just as India, and now, sadly, Canada have caved on digital taxation.Years ago, the international community recognised that too many global companies were not paying their fair share of taxes, and some weren’t paying taxes to the country where the economic activity actually occurs. The complex agreement that emerged in 2021 at the OECD/G20 Inclusive Framework on Base Erosion and Profit Shifting comprised two pillars; only Pillar Two, a global minimum corporate tax, has been adopted. (The other pillar allocated taxation rights among countries and spurred opposition from developing countries and the US.) Continue reading...

Comments

Business News

How secret ‘side deal’ helped seal Paramount’s $16M settlement with Trump — and here’s who deserves the credit

Newyork Post

Ukraine is trying to get answers amid worries that the Pentagon's ammo hold could impact its much-needed Patriots and more

about 3 hours ago

We didn't invite any kids to our 5-year-old's birthday. It was the best decision we ever made.

insider

Paramount CEO claims Trump legal settlement avoided ‘reputational damage’ — but insiders cry BS: ‘Can spin it any way he wants’

about 4 hours ago

Tesla sales skid in the second quarter amid backlash over founder Elon Musk's politics

Dailymail

Comments

Business News

How secret ‘side deal’ helped seal Paramount’s $16M settlement with Trump — and here’s who deserves the credit

Oscar Mayer turkey bacon products recalled over possible listeria contamination

Tougher rules needed for utility firms digging up roads, MPs say

UK's cheapest supermarket ranked but it's just pennies cheaper than major rival

This country has the lowest retirement age in Europe - and it's 14 years earlier than the UK

The next Chinese car giant to break the UK market this year

After decades on NPR, this familiar voice is retiring

Four-day week pilot hailed a success

Tougher rules needed for utility firms digging up roads, MPs say

Tickets For The 50th Annual Prefontaine Classic Are Nearing $1,000

Microsoft to cut up to 9,000 jobs as it invests in AI

Why the world's superyachts are getting bigger and bigger

Reeves' five choices to turn government finances around

Citroen owners left stranded over airbag safety risk

RSV vaccine access expanded to some people in their 50s, according to CDC website

Republican leaders in House work to win over final holdouts on Trump's tax bill

Ukraine looks to jointly produce weapons with allies as the U.S. halts some shipments

Yale's law school dean will be the Ford Foundation's new president

RSV vaccine access expanded to some people in their 50s, according to CDC website

368K pounds of Oscar Mayer turkey bacon recalled over possible listeria contamination

Business confidence remains weak after NI and wage cost hikes, says BCC

Reeves will be Chancellor ‘for a very long time’, PM says after Commons tears

How markets reacted to uncertainty over Rachel Reeves's future

Ukraine is trying to get answers amid worries that the Pentagon's ammo hold could impact its much-needed Patriots and more

We didn't invite any kids to our 5-year-old's birthday. It was the best decision we ever made.

A thought experiment on how to fix the national debt problem

Business confidence remains weak after NI and wage cost hikes, says BCC

Reeves will be Chancellor ‘for a very long time’, PM says after Commons tears

Thailand’s Chearavanont Brothers Lead Their CP Group Into A Digital Future

Energy-And-Telecoms Tycoon Sarath Ratanavadi Leaps Ahead To Become Thailand’s Third-Richest Person

Fortune Of Thai Building Supplies Magnate Takes Hit As Consumers Turn Thrifty

Thailand’s Former Renewable Energy Billionaire Drops From The Ranks Of The Country’s 50 Richest

Debbie Wasserman Schultz Says Trump-Backed Big Beautiful Bill ‘Will Kill People’

‘Omniscient Reader: The Prophecy’ Gets North American Release Date

Expect More ‘Final Destination’ Movies After ‘Bloodlines’ Success

Thailand’s 50 Richest 2025: Collective Wealth Led By The Red Bull Family Jumps 11% To Cross $170 Billion

Unique New 12-Hole Golf Course Coming To Chechessee Creek Club

Sean ‘Diddy’ Combs Denied Bail After Trial

What to know about Trump’s tariffs on Vietnam under new trade deal

Calgary home sales drop again in June as inventory keeps piling up: CREB

Tax Cuts Now, Benefit Cuts Later: The Timeline in the Republican Megabill

Nirvana, Outkast and more: Ahead of Oasis' tour, a look at famous and brief band reunions

Del Monte, the 139-year-old canned fruits and vegetables company, seeks bankruptcy protection

Amazon deploys one-millionth robot at Japan facility

Trump says trade deal clinched with Vietnam

D.C. restaurants seek repeal of tipped minimum wage hike

Trump administration withholds over $6 billion for after-school, summer programs and more

In a big bill that hurts clean energy, residential solar likely to get hit fast

Court orders reinstatement of convictions of ex-Fox executive, marketing firm in FIFA bribery case

Microsoft's largest layoff in years hits Xbox, sales and other divisions

Trump adds at least $620 million to his net worth thanks to crypto investments: report

Paramount CEO claims Trump legal settlement avoided ‘reputational damage’ — but insiders cry BS: ‘Can spin it any way he wants’

Tesla sales skid in the second quarter amid backlash over founder Elon Musk's politics

Private equity giant KKR wins takeover battle for British scientific testing kit maker Spectris

Tears for the budget: Abandoning or changing the fiscal rules would be a U-turn too far, says ALEX BRUMMER

Treasury faces £1bn blow from AstraZeneca exit as pharma giant's boss mulls New York move

High St set for more branch closures as Santander snaps up rival TSB in £2.9bn deal

Internal Microsoft memo lays out its new strategy for selling AI as the company cuts salespeople

What Diddy's guilty verdict and civil suits mean for his net worth, music catalog, and brands

Elon Musk is threatening their political careers. Republicans say they aren't sweating it.