New tax policies announced recently by G7 communiqué will face hurdles as the proposals are yet to be agreed by the G20 and other jurisdictions, says ACCA today, asserting that the three foundations for a sound tax system are simplicity, certainty and stability. Jason Piper, head of tax and business law at ACCA says: ‘Committing […]
G7 foreign ministers
UK hails G7 declaration on preventing future pandemics
British Prime Minister Boris Johnson on Saturday acclaimed a “historic” action plan by G7 nations to prevent future pandemics, after Covid-19 wrecked economies and claimed millions of lives around the world. The “Carbis Bay Declaration” — named after the seaside town in Cornwall, southwest England, where world leaders are currently holding their summit — comprises […]
G7 leaders target one billion jabs and climate drive
G7 leaders gathered Friday for their first in-person talks in nearly two years, with an expected pledge to donate one billion Covid vaccine doses to poor countries on the agenda in a show of Western democratic cohesion. The club of leading economies — Britain, Canada, France, Germany, Italy, Japan and United States — say a […]
Biden and Johnson meet on eve of G7 summit
British Prime Minister Boris Johnson welcomed US President Joe Biden for talks on Thursday, at their first face-to-face meeting on the eve of the G7 leaders’ summit in Carbis Bay, Cornwall. Johnson said “everybody was absolutely thrilled” to see Biden in the seaside resort in southwest England while Biden congratulated the prime minister on his […]
Biden and Johnson hold first meeting, but N. Ireland casts shadow
Joe Biden and Boris Johnson will hold their first face-to-face meeting Thursday, during which they will lay the foundations for a new pact, despite Brexit and its consequences in Northern Ireland casting a shadow on the old “special relationship”. Biden — on his first overseas tour as US president — and the British Prime Minister […]
G7 commits to ‘at least 15% global minimum corporate tax’
Finance ministers from wealthy G7 nations on Saturday pledged to commit to a global minimum corporate tax of at least 15 percent, rallying behind a US-backed plan. “We… commit to a global minimum tax of at least 15 percent on a country by country basis,” a statement said after their London meeting, adding that they […]
G7 nations hopeful of ‘historic’ corporate tax deal
Finance ministers from wealthy G7 nations were Saturday expected to formally announce support for a minimum level of corporate tax in a landmark move aimed at getting multinationals — especially tech giants — to pay more into pandemic-hit government coffers. According to a draft communique seen by AFP, the finance chiefs and central bankers of […]
Libya in focus at G7 foreign ministers meeting, minus Pompeo
Foreign ministers from the G7 group of nations will discuss the threat of a resurgence in Libya’s civil war at a meeting in western France on Friday, as world powers scrambled to defuse a dangerous escalation in the oil producer’s power struggle. A military advance towards Tripoli and Libya’s U.N. backed government by eastern commander […]