The good, the bad and the ugly of the global tax reform deal
The agreement only very partially solves the problem of profit shifting. Too few multinational corporations are included. Even with a minimum rate, most corporate profit will still be taxed according to the residence principle.
Martin Sandbu
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Let us not be too curmudgeonly: the agreement by 130 countries to reform international corporate taxation is a big moment. It is not often that a global near-consensus is reached on something with such concrete consequences.
Yet while congratulations are in order, the outcome is mixed at best. Here is the good, the bad and the ugly of the reform.
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France in preelection push to soften the eurozone s budget rules
French President Emmanuel Macron is pushing to water down the eurozone s budget criteria. But some economists don t think that s a good idea.
Watering down the eurozone s budget rules may prove a difficult task for France given objections by fellow bloc members
Less than a year before France s next presidential elections, President Emmanuel Macron seems to be pushing for a softening of the eurozone s budget rules to gain voter support. But some economists throw their hands up in despair.
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PHOTO: CHRISTOPHE ARCHAMBAULT/AFP/GETTY IMAGES
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