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Expand "A Great Step Forward" - EU Praises Yellen's Global Minimum Tax, Says Deal Could Come Later This Year by Tyler Durden Wednesday, Apr 07, 2021 - 02:45 AM Few, if any, industries are going to love the higher taxes they will soon face in the US and abroad thanks to President Biden and his American Jobs Plan. But big tech has good reason to be particularly unnerved by Treasury Secretary Janet Yellen's calls for a global minimum corporate tax rate. Though it didn't name its source, Bloomberg reported Tuesday that the EU plans to insist that its long-awaited digital tax on the US tech giant...

Global Minimum Tax For Corporations Inches Towards Reality By Virginie MONTET 04/06/21 AT 1:28 PM Proposed by the United States, supported by the IMF and welcomed by major economies including France and Germany, a global minimum tax rate on corporations is gathering momentum toward becoming a reality. The reform aimed at ending tax competition between countries and the use of tax havens by companies will be on the agenda of G20 finance ministers when they meet virtually on Wednesday, and the group could unveil a proposal by July. The idea has been promoted by the Organization for Economic...

Maros Sefcovic has accused the UK of breaking international law (Image: GETTY) Speaking yesterday, European Commission spokesman Eric Mamer said: "To be crystal clear, there are practical steps which the United Kingdom is supposed to implement that are related to the agreements that we found in December. "And if people are talking about us trying to find an agreement on prolonging the grace periods, which must be a joint decision, a joint decision in the context of the joint committee, the UK also has to do its homework on those practical steps that it has to implement, that it should have im...

The EU officially cut ties with the EU last year when the transition period ended (Image: EXPRESS) He said: “We will do everything we need to do, whether legislatively or indeed by triggering Article 16 of the protocol, to ensure that there is no barrier down the Irish Sea." It also comes as the European Commission is now expecting permanent post-Brexit border control posts to be ready in Northern Ireland by the middle of this year. Commission spokesman Daniel Ferrie claimed the UK had obligations to meet under the Northern Ireland Protocol. Mr Ferrie said: "We have received reassurances th...

READ MORE On social media, he wrote: "Focus has to be on achieving agreed practical solutions." Sinn Féin deputy leader Michelle O'Neill said the DUP "must own the consequences of Brexit" and the Northern Ireland Protocol is a "direct consequence of Brexit". She added that the "solo run by DUP Minister for Agriculture Gordon Lyons instructing his officials to halt work on further infrastructure, and charging at the ports is clearly a stunt". Ms O'Neill added there was no alternative to the Northern Ireland Protocol. However, Commission spokesman Daniel Ferrie aid the commission had "received...