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G-20 finance ministers back reforms to stop use of tax havens

Finance ministers from the Group of 20 countries endorsed the plan at a meeting Saturday in Venice. U.S. Treasury Secretary Janet Yellen said the proposal would end a self-defeating international tax competition in which countries have for years lowered their rates to attract companies. She said that had been a race that nobody has won. What it has done instead is to deprive us of the resources we need to invest in our people, our workforces, our infrastructure. The next steps include more work on key details at the Paris-based Organization for Economic Cooperation and Development and then a final decision at the Group of 20 meeting of presidents and prime ministers on Oct. 30-31 in Rome.

8 arrested in deadly Bangladesh factory fire | World

Sunday, July 11, 2021 1:00 am World Associated Press DHAKA, Bangladesh – Police in Bangladesh arrested eight people Saturday on murder charges in connection with a factory fire that killed at least 52 people, many of whom were trapped inside by an illegally locked door, a senior police official said. The blaze began Thursday night at the five-story Hashem Foods Ltd. factory in Rupganj, just outside the capital Dhaka, sending huge clouds of black smoke billowing into the sky. Police discovered piles of bodies Friday afternoon after the fire was extinguished. Home Minister Asaduzzman Khan said the managing director of Sajeeb Group, which owns the factory, is among those detained.

France hails tax revolution opportunity as G20 back plan to deter tax havens

France hails tax revolution opportunity as G20 back plan to deter tax havens Issued on: G20 finance ministers reached agreement on an ambitious tax plan in Venice ANDREA PATTARO AFP 4 min Top finance officials representing 85 percent of global wealth have backed a plan to overhaul international taxation, including a 15 percent global minimum corporate tax to discourage big companies from resorting to low-rate tax havens. Advertising Read more Finance ministers from the Group of 20 countries endorsed the plan at a meeting in Venice on Saturday. Some 132 countries have already signed up to a framework for international tax reform struck earlier this month in Paris.

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