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German, French ministers back U.S. idea for 21% minimum tax rate -Zeit

By Reuters Staff
1 Min Read
BERLIN, April 27 (Reuters) - The finance ministers of France and Germany support the idea of a 21% minimum corporate tax rate, as suggested by the U.S. government, they said in a joint interview in Zeit Online on Tuesday.
“I, personally, I have nothing against the U.S. proposal,” Germany’s Olaf Scholz was quoted as saying. “If that is the result of negotiations, we would also be agreed,” France’s Bruno Le Maire said, according to Zeit.
Reporting by Madeline Chambers Editing by Riham Alkousaa ....

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Turkey's ruling AK Party proposes raising corporate tax to 25% in 2021

By Reuters Staff
1 Min Read
FILE PHOTO: FILE PHOTO: A man walks towards the entrance of OzdilekPark Shopping Center in the business and financial district of Levent, in Istanbul, Turkey September 8, 2020. REUTERS/Murad Sezer/File Photo
ISTANBUL (Reuters) - President Tayyip Erdogan’s ruling AK Party submitted a draft law to parliament on Friday that proposes raising corporate tax in Turkey to 25% this year from 20% now and then to 23% in 2022.
The draft also envisages support for restaurant and cafe employees in April and May following the imposition of new restrictions aimed at curbing the spread of the coronavirus.
Reporting by Tuvan Gumrukcu and Nevzat Devranoglu; Writing by Ezgi Erkoyun; Editing by Gareth Jones ....

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Agreement on minimum corporate tax possible this summer, Germany's Scholz says

By Reuters Staff
1 Min Read
BERLIN, April 27 (Reuters) - German Finance Minister Olaf Scholz is confident of finding agreement on a minimum global corporate tax rate within months.
“I am quite optimistic that we will have a good solution this summer, and this will change international taxation a lot and will end the race to the bottom we see today in international taxation of corporates,” Scholz said on Tuesday. (Reporting by Sabine Siebold, editing by Thomas Escritt) ....

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Each Ugandan now owes Shs1.5m as national debt hits Shs65t

Daily Monitor
Monday April 26 2021
Summary
Government has accumulated a staggering Shs65trillion public debt, up from Shs49trillion in 2019, with officials justifying that they borrowed the money to finance key infrastructural projects 9in transport, oil and gas sectors.
The country’s debt is set to surpass the 50 per cent threshold in 2022.
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This means that of the estimated 43 million Ugandans, each one owes lenders Shs1.5 million.
The country’s public debt portfolio is projected to swell in the next financial year, with economists warning that it could surpass the 50 per cent threshold-hence becoming untenable.
Debt held by the public is often expressed as a percentage of Gross Domestic Product (GDP), which measures the capacity of the economy to support such borrowing. This is particularly useful in comparing debt levels over time and among countries of different sizes. ....

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Britain proposes domestic emissions trading scheme from Jan 1

By Reuters Staff
2 Min Read
(Reuters) - The British government said on Monday it will establish a domestic emissions trading scheme (UK ETS) from Jan. 1 to replace the current EU regime, as it presented its long-awaited white paper on energy policy.
Slideshow ( 2 images )
Britain exits the EU ETS at the end of the Brexit transition period and had previously said it may introduce either a domestic ETS or a carbon tax.
“It will be the world’s first net-zero carbon cap and trade market, and a crucial step towards achieving the UK’s target for net-zero carbon emissions by 2050,” the government said. ....

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