G7 countries move closer to tax plan for US tech giants

G7 countries that make up lucrative markets for US tech giants have moved closer to a plan to squeeze more tax money from the coffers of Amazon, Apple, Facebook and Google. The group, including Britain, Canada, France, Germany, Italy, Japan and the United States, has visions of a global tax rate of at least 15 … Read more

US Treasury Secretary Janet Yellen calls for minimum global corporate income tax

US Treasury Secretary Janet Yellen on Monday urged the adoption of a minimum global corporate income tax, an effort to offset any disadvantages that might arise from the Biden administration’s proposed increase in the US corporate tax rate. Citing a “thirty-year race to the bottom” in which countries have slashed corporate tax rates in an … Read more

Govt’s Endeavour Has Been to Further Simplify Direct Tax laws: Nirmala Sitharaman

File photo of Finance Minister Nirmala Sitharaman. The minister also lauded the department for being responsive to the needs of the taxpayers during this pandemic time by relaxing various compliance requirements and addressing their liquidity concerns. PTI Last Updated: July 24, 2020, 11:53 PM IST The government’s endeavour has been to … Read more