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

Top Iran Leader Says Trump is a 'Clown' Who Pretends Support
Friday, 17 January 2020 23:31 WIB

Iran's supreme leader says its missile attack on U.S. troops in Iraq earlier this month was a "blow to America's image'' as a superpower, as he led prayers in Tehran for the first time since 2012. Ayatollah Ali Khamenei said America had "cowardly'' killed the most effective commander in the fight a...

Pentagon Defends Track Record in Afghanistan
Friday, 17 January 2020 18:02 WIB

The Pentagon is rejecting accusations that military leadership "incentivized lying" to portray a more optimistic picture of U.S. efforts in the nearly two-decade-long war in Afghanistan. "The idea that there was some ... effort to hide the truth or the reality on the ground just doesn't hold water,...

US-China Trade Deal Draws Praise, But Leaves Considerable Unfinished Business
Friday, 17 January 2020 09:55 WIB

The "Phase 1" trade deal between the United States and China, signed with much fanfare at the White House on Wednesday, is being met with qualified praise by most trade experts who see good news in any reduction of tensions between the world's two largest economies. The deal also leaves many major ...

Russia's New PM a Career Bureaucrat With No Political Aims
Thursday, 16 January 2020 23:55 WIB

Mikhail Mishustin never had any political ambitions as a career bureaucrat and his name didn't come up as a top candidate to become Russia's next prime minister. But the 53-year-old Mishustin, the longtime chief of Russia's tax service, was tapped for the post by President Vladimir Putin. The lower...

China: Possible That New Virus Could Spread Between Humans
Thursday, 16 January 2020 17:36 WIB

The possibility that a new virus in central China could spread between humans cannot be ruled out, though the risk of transmission at the moment appears to be low, Chinese officials said Wednesday.    Forty-one people in the city of Wuhan have received a preliminary diagnosis of a no...

ANOTHER NEWS
S&P 500, Dow close at new records, notch best weekly gains since August
Saturday, 18 January 2020 04:19 WIB U.S. stocks closed at all-time highs Friday, marking the third-straight record close for the Dow and S&P 500, as investors cheered bullish economic data and continued to ride a wave of trade optimism. The Dow Jones Industrial Average rose 50...

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.