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

Brazil Posts New Record of Coronavirus Deaths in Single Day
Thursday, 4 June 2020 10:17 WIB

Brazil announced Tuesday that it has recorded another one-day record of coronavirus deaths. The Health Ministry said it had confirmed another 1,262 COVID-19 deaths, bringing the total death toll to 31,199, with the number of total confirmed cases now at 555,383, second only to the United States, wh...

Indigenous Australians Show Solidarity With US Protesters
Wednesday, 3 June 2020 23:40 WIB

As protests take place in the United States of America, indigenous families who have had bad experiences with law enforcement say police brutality is a serious problem in Australia. Aboriginal Australians make up about 3 percent of the total population, but almost a third of the prison population ar...

Global Outrage Grows at George Floyd's Death
Wednesday, 3 June 2020 18:31 WIB

Outrage is growing across the globe at the death of George Floyd, the African American man who died last week after being detained by police on a city street in Minneapolis, Minnesota. The European Union's top diplomat, Josep Borrell, said in Brussels that Floyd's death resulted from an abuse of po...

Hong Kong Leader Accuses US of 'Double Standard' Over Protests
Wednesday, 3 June 2020 09:15 WIB

Hong Kong Chief Executive Carrie Lam said the violent protests across the United States are an example of foreign governments applying a "double standard" when it comes to China's approach to quelling a year of anti-Beijing protests. U.S. Secretary of State Mike Pompeo announced last week that it n...

South Korea Reopens WTO Complaint Over Japan's Export Curbs
Tuesday, 2 June 2020 23:35 WIB

South Korea says it will reopen a complaint against Japan at the World Trade Organization over Tokyo™s stringent controls over exports of key materials used in South Korea™s technology sector. Seoul initially filed the complaint last September after Tokyo removed the South from its list of trus...

ANOTHER NEWS
Stock Futures Drop as Wall Street Rally Looks Set to Pause
Thursday, 4 June 2020 16:49 WIB Futures contracts tied to the major U.S. stock indexes fell in early trading Thursday following yet another robust day on Wall Street. Dow Jones Industrial Average futures indicated an opening loss of more than 100 points when regular trading...

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.