US Treasury Secretary Steven Mnuchin said on Saturday it was very important to have tax certainty on a global basis and that the OECD was very close to consensus on a framework for minimum corporate tax.
“You cannot have in a global economy different national tax systems that conflict with each other,” Mnuchin told an economic conference in Saudi Arabia, which is hosting finance leaders of the world’s 20 largest economies.
“The good news is we’re very close to a consensus on pillar 2,” he said, referring to OECD tax reform talks on an international framework for minimum corporate tax.
The Organization for Economic Cooperation and Development is in the middle of the biggest rewrite of decades-old international tax rules that proposes giving governments more power to tax big multinationals doing business in their countries.
-
Saudi GDP growth set to see uptick this year: SAMA
Saudi Arabia’s economic growth is projected to see an uptick this year, backed by the non-oil economy, the country’s central bank governor ... Economy -
Saudi Arabia hosts G20 financial leaders to discuss global economy, coronavirus
Finance ministers and central bank governors from G20 nations meet in the Saudi capital Saturday for a two-day gathering to discuss the global economy ... Economy -
Saudi Arabia plans $110 bln investment to develop al-Jafurah gas field
Saudi Arabia said it is ushering in a new era in gas as it announced plans to develop the al-Jafurah field in the eastern region with a $110 ... Energy -
S&P lowers Lebanon’s debt rating to CC, warns of potential further cut
Credit ratings agency S&P lowered Lebanon’s debt grade a notch on Friday, but warned a further cut is possible should the government miss a ... Economy