TWO ISSUES will be critically important for ASEAN members to shape their recovery from the COVID-19 pandemic: strengthening regional cooperation and improving domestic resource mobilization.
First is the need to leverage stronger regional cooperation to enhance regional financial safety nets, deepen regional trade and supply chains, and build regional health security.
US interest rate hikes often drive capital outflows from emerging markets, which can trigger currency and financial volatility. At this stage of the pandemic, the additional policy supports and accelerated vaccine rollouts in advanced economies have improved their near-term recovery prospects. These economies could start policy normalization earlier than expected. Long-term interest rates in some advanced economies have already risen on positive outlooks and inflation concerns, rattling global financial markets.
Govt reacts to US proposals on corporate tax reform
Updated / Thursday, 8 Apr 2021
13:29
The report says the US will table new proposals under the OECD s corporate tax reform process
Economics Correspondent
The Department of Finance has released a statement in response to a report in today s Financial Times about a new proposal from the United States on corporate tax reform.
The report says the US will table new proposals under the OECD s corporate tax reform process that could see some of the profits of the world s biggest multinational taxed in countries where they make their sales.
This means the US now supports both of the two main principles behind plans to change international tax rules.
Digital Services Taxes: A Primer americanactionforum.org - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanactionforum.org Daily Mail and Mail on Sunday newspapers.
EU finance ministers are set to park plans to tax Big Tech while they wait for global rules to be agreed.
A worldwide deal, led by the Paris-based Organisation for Economic Cooperation and Development (OECD), inched closer last month after the US removed one of its key demands.
Portuguese finance minister João Leão said yesterday that he was “relatively confident” of a global deal by the middle of the year,.
“All member states agree that it is in their interests to provide room for the ongoing negotiations in the OECD on the reform of the corporate taxation rules. Finding a global consensus, in a multilateral context, is the right way forward.”