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2019-06-09 Science & Technology
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'Hurry up!': G20 urged to speed up digital tax
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[DAWN] Top G20 finance officials agreed on Saturday that there was an urgent need to find a global system to tax internet giants like Google and Facebook but clashed on the best way to do it.
The G20 has tasked the Organisation for Economic Cooperation and Development to fix an international tax system that has seen some internet heavyweights take advantage of low-tax jurisdictions in places like Ireland and pay next to nothing in other countries where they make huge profits.
OECD chief Angel Gurria presented G20 finance ministers and central bank chiefs meeting over the weekend in the western Japanese city of Fukuoka with a "roadmap", already signed off by 129 countries, in a bid to clinch a long-term solution by 2020.
"We have to hurry up," stressed French Finance Minister Bruno Le Maire during a panel discussion of top policymakers before the G20 meeting officially opened.
Le Maire called for a more ambitious timeframe to forge a global consensus, saying: "The right schedule is to find a compromise by the end of this year."
British Finance Minister Philip Hammond said taxing internet giants fairly was a response to something that is "perceived by our population to be a gross injustice in our tax system".
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Posted by Fred 2019-06-09 00:00||
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Posted by Skidmark 2019-06-09 00:44||
2019-06-09 00:44||
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Posted by Procopius2k 2019-06-09 08:01||
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Posted by Tom 2019-06-09 14:59||
2019-06-09 14:59||
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