US, French Differences Over Tech Tax Resurface at G-7 Meeting
Wednesday, 17 July 2019 18:04 WIB | GLOBAL |Global

Group of Seven finance ministers and central bankers will hold talks Wednesday outside Paris that are likely to be dominated by global trade disputes and differences over taxing tech companies. Also on the agenda is a French push for fairer levies benefiting poorer countries.

The G-7 finance meeting is being held in the town of Chantilly ” home to a historic chateau and France's famous whipped cream. But the talks among representatives from some of the world's richest nations target more weighty issues. Among them: U.S.-China trade war, fears of an economic slowdown and controversial plans by Facebook to launch a virtual currency called Libra. Potentially dominating the agenda is new and controversial French legislation to tax multinational tech giants like Google and Amazon. The UK has drafted a similar proposal.

The Trump administration has launched a probe into the French legislation, which could lead to retaliatory tariffs. Washington claims the bill unfairly targets American companies. France says it will repeal the tax once the nations reach agreement on a global digital tax plan.

French Economy Minister Bruno Le Maire said threats are not the right way for allies to resolve differences, noting France makes its taxing decisions as a sovereign nation. The Chantilly meeting, he said, can be an opportunity to find common ground.

The finance meeting also will address rising inequality, a priority of France's G-7 presidency this year that covers areas like health, education, jobs and climate change. On the finance side, Paris wants the group to discuss ways to build a fairer international tax system.

Quentin Parrinello, tax justice officer for Oxfam France, says tax evasions by large multinational corporations costs developing countries an estimated $100 billion a year.

"We are at a turning point right now, because the options on the table can be transformative," he said. "France is being very good at big statements, but what Oxfam is expecting from France is turning words into action."

The finance ministers' meeting is the last big G-7 gathering before next month's summit in the southwestern French town of Biarritz.

Source : VOA    

RELATED NEWS

Health Officials Urge Governments to Ready Coronavirus Response
Wednesday, 26 February 2020 23:13 WIB

As China reported a continued slowdown in new coronavirus cases, world health officials praised the country's response while alerting other governments to be ready to aggressively react when cases appear within their borders. Chinese health officials said Wednesday there were 406 new cases, almost ...

Former Egyptian Ruler Mubarak Dead at 91
Wednesday, 26 February 2020 16:11 WIB

Longtime Egyptian leader Hosni Mubarak has died at the age of 91. His death was reported Tuesday by state television. Mubarak ruled Egypt for almost 30 years before being swept from power in 2011 after 18 days of popular protests. He rose through the ranks of the Egyptian air force, eventually bec...

Trump: 'We're Pretty Close' to Afghan Peace Deal
Wednesday, 26 February 2020 11:54 WIB

U.S. President Donald Trump says his administration is moving closer to a peace deal with the Taliban in Afghanistan, saying a week-long nationwide œreduction in violence truce with the insurgent group is holding up œso far, so good. Trump spoke to reporters in India at the conclusion of ...

No Checkout Needed: Amazon Opens Cashier-less Grocery Store
Tuesday, 25 February 2020 23:49 WIB

The online retailing giant is opening its first cashier-less supermarket, the latest sign that Amazon is serious about shaking up the $800 billion grocery industry. At the new store, opening Tuesday in Seattle, shoppers can grab milk or eggs and walk out without checking out or opening their wallet...

Confirmed Coronavirus Cases Surpasse 200 in Italy
Tuesday, 25 February 2020 19:30 WIB

The death toll in Italy from the coronavirus outbreak stands at seven with more than 200 cases confirmed. At least 10 towns in the north are in lockdown mode and the army is ensuring no one enters of leaves them during a quarantine period. Italian authorities are working around the clock putting in...

ANOTHER NEWS
European stocks close mixed as coronavirus spreads further
Thursday, 27 February 2020 00:13 WIB European markets closed mixed Wednesday, after the number of coronavirus cases outside of China exceeded those inside the country for the first time. The pan-European Stoxx 600 closed slightly below the flatline, to 404.62  pada paring some...

DISCLAIMER

Seluruh materi atau konten yang tersaji di dalam website ini hanya bersifat informatif saja, dan tidak dimaksudkan sebagai pegangan serta keputusan dalam investasi atau jenis transaksi lainnya. Kami tidak bertanggung jawab atas segala akibat yang timbul dari penyajian konten tersebut. Semua pihak yang mengunjungi website ini harus membaca Terms of Service (Syarat dan Ketentuan Layanan) terlebih dahulu dan dihimbau untuk melakukan analisis secara independen serta memperoleh saran dari para ahli dibidangnya.