The impact will be unbalanced, with the biggest toll coming in Europe and North America, two regions expected to face painful slowdowns and a continued high cost of living and […]
Organization for Economic Cooperation and Development
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Back to news homeHow Omicron Could Knock Economic Recovery Off Track
LONDON — This week, Marisha Wallace finally had to admit that her planned five-day ski holiday in Switzerland in mid-December was not salvageable: The Swiss government’s sudden decision to impose […]
Global Tax Agreement Will Set 15% Minimum Rate
More than 130 nations agreed on Friday to a sweeping overhaul of international tax rules, with officials backing a 15 percent global minimum tax and other changes aimed at cracking […]
A Global Deal Aimed at Ending Tax Havens Gains Momentum
People with knowledge of the negotiations said that while the 15 percent rate was essentially a done deal, some of the world’s biggest countries continued to battle for exemptions to […]
Uneven Global Vaccination Threatens Economic Rebound, O.E.C.D. Warns
China, the world’s second-biggest economy, was forecast to grow 8.5 percent this year, before slowing to a 5.8 percent pace in 2022. Asked about the impact from the potential collapse […]
Global Tax Overhaul Gains Steam as G20 Backs New Levies
Absent unanimous approval among the members of the European Union, an accord would stall. Establishing a minimum tax would require an E.U. directive, and directives require backing by all 28 […]
Finance Ministers Meet in Venice to Finalize Global Tax Agreement
“It is important to recognize that there are numerous policy levers and paths that countries will take to create incentives for decarbonization,” Ms. Yellen said during a panel discussion. “Those […]
Ireland’s Days as a Tax Haven May Be Ending, but Not Without a Fight
On the crowded waterside quay of Dublin’s Silicon Docks neighborhood, Google’s European headquarters tower above the skyline. Facebook and Twitter are neighbors. The European bases of Apple, Pfizer and hundreds […]
U.S. Proposal for Global Minimum Tax Gets Backing From 130 Countries
Breezy Caribbean island tax havens also declined to sign on, including Barbados, Saint Vincent and the Grenadines. Hungary and Estonia, which are keen to preserve their ultralow tax regimes, joined […]
U.S. Backs Global Minimum Tax of at Least 15% to Curb Profit Shifting Overseas
The Biden administration proposed a global tax on multinational corporations of at least 15 percent in the latest round of international tax negotiations, Treasury Department officials said on Thursday, as […]