• Business & Finance

    Global tax deal seeks to end havens, criticized for ‘no teeth’

    Ireland, Estonia and Hungary drop opposition to deal Global accord ensures big firms pay 15% minimum tax rate Some developing countries, U.S. Republicans sceptical PARIS, Oct 8 (Reuters) – A group of 136 countries on Friday set a minimum global tax rate of 15% for big companies and sought to make it harder for them to avoid taxation in a landmark deal that U.S. President Joe Biden said levelled the playing field. The deal aims to end a four-decade-long “race to the bottom” by setting a floor for countries that have sought to attract investment and jobs by taxing multinational  

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  • Business Accounting

    Liberty Tax Selects Xero as Preferred Cloud Accounting Platform

    DENVER & DALLAS–(BUSINESS WIRE)–Xero, the global small business platform, announced that Liberty Tax, with 2700 franchisees across the US and Canada, selected Xero as the preferred cloud accounting software for its new small business service offering. Liberty Tax, a portfolio company of NextPoint Financial Inc. (TSX: NPF.U), has more than 12,000 tax professionals in the US and Canada providing tax preparation services for individuals and small businesses. The company will be expanding its services and launching a service for small businesses that includes monthly bookkeeping, payroll services and business loans. “We recognize the importance of  

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  • Business & Finance

    G20 finance chiefs back global tax crackdown -draft

    People sit at outdoor tables at St. Mark’s Square as Italy lifts quarantine restrictions for travellers arriving from European Union countries, Britain and Israel and begins offering COVID-free flights in a bid to revive the tourism industry, in Venice, Italy, May 16, 2021. REUTERS/Manuel Silvestri//File Photo Draft shows G20 backing for global tax deal G20 to urge hold-out nations to join Call for financial stability to be ensured VENICE, July 9 (Reuters) – Finance chiefs of the G20 club of large economies have backed a landmark move to stop multinationals shifting profits into low-tax havens and win back hundreds of  

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  • Business News

    Switzerland must adjust to remain business-friendly after G7 tax deal, experts say

    The Verwaltungszentrum Werd administration center is seen in front of the eastern Swiss Alps and Lake Zurich in Zurich, Switzerland, April 8, 2021. REUTERS/Arnd Wiegmann Switzerland will have to find new ways to remain attractive to business, experts said on Monday, after Group of Seven (G7) nations reached a landmark deal to reduce the incentive of multinational companies to shift profits to tax havens. G7 finance ministers agreed on Saturday to back a global corporate tax rate of at least 15% to squeeze more money out of sprawling companies such as Amazon and Google. read more . The Swiss finance  

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  • Business & Finance

    UK wants more G7 progress on climate finance, eyes tax reform

    Britain’s Chancellor of the Exchequer (finance minister) Rishi Sunak attends a virtual press conference inside 10 Downing Street in central London, Britain March 3, 2021. Tolga Akmen/Pool via REUTERS/File Photo British finance minister Rishi Sunak called for more progress on ensuring financial markets support lower greenhouse gas emissions, after speaking with other finance ministers and central bankers from the G7 group of rich nations on Friday. Britain’s finance ministry said Sunak sought consistent international rules on how companies report their climate impact, so investors can make better-informed decisions. Britain will host an in-person meeting of finance ministers in London on  

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