Martin Hearson

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Britain's Chancellor of the Exchequer Rishi Sunak speaks at a meeting of finance ministers ahead of the G-7 leaders' summit, in London on June 4. (Pool/Reuters)

InternacionalEconomía, ,

The “historic” tax agreement struck at the Group of Seven summit of powerful nations looks like the beginning of the endgame in a decade of intensive negotiations on global corporate taxation. In the past, governments have claimed that they have a sovereign right to set their own taxes. Now, a global minimum tax, championed by the Biden administration, would for the first time involve a multilateral agreement on the tax rates paid by businesses. A new approach to taxing highly profitable firms will allow countries outside the United States to claw back some tax on digital giants such as Google and Facebook.…  Seguir leyendo »

MundoAméricaEuropaUnión EuropeaEconomía, , , ,

Last week, President Trump ordered an investigation into France’s new tax on Apple, Facebook, Google and other large digital companies. The administration is considering strong retaliatory measures, on the grounds that it unfairly targets U.S. companies.

This is the latest stage in a long-running battle. France introduced its “digital services tax” because it felt that the Group of 20 nations weren’t making progress toward a new global agreement on taxing technology companies. Britain, Spain, Italy and others are pursuing similar taxes.

Some commentators view the Trump probe as just “a new angle of attack” in an ongoing transatlantic rift between the United States and Europe.…  Seguir leyendo »