ROME - British Prime Minister Boris Johnson says he unsuccessfully pressed President Xi Jinping to increase China’s carbon-cutting goals ahead of a key United Nations climate change summit.Ĭhina released an updated version of its climate targets this week, promising to hit net-zero carbon emissions by 2060 and to have carbon dioxide emissions peak by 2030. is home to 28% of the world’s 2,000 largest multinationals. Congress will pass legislation to comply, since the U.S. In today’s digital and global economy profits can come from intangibles such as copyrights and trademarks, and can thus be easily shifted to countries offering near-zero taxes in hopes of attracting revenue they otherwise wouldn’t have.Ī key question is whether the U.S. The idea is that headquarters countries would top up a company’s tax to 15% if the firm’s profits went undertaxed in another country. Following formal approval to be reflected in Sunday’s closing statement, countries would enact the minimum tax on their own. Leaders spoke on the proposal during the opening session Saturday of the summit, said officials from host country Italy.
ROME- Leaders have expressed “broad support” for a landmark deal to establish a 15% global minimum corporate tax that aims at deterring multinational countries from using clever accounting to elude taxes by using low-rate havens.
Macron also met Saturday with Presidents Joko Widodo of Indonesia and Moon Jae-in of South Korea about similar issues. Macron’s office listed “trust” and “independence” amid principles which must guide France and India’s actions in the region shaken by concerns over the growing influence of China. The talks will address bilateral, regional and international issues.įrance has said India is its “main partner” in the Indo-Pacific area after the announcement in September of a secretly negotiated submarine deal between Australia, the U.S.
Macron's office said France and India will open a “strategic dialogue” next week in Paris to set a common agenda. ROME - French President Emmanuel Macron and Indian Prime Minister Narendra Modi have agreed to boost ties in the Indo-Pacific region during a meeting on the sidelines of the Group of 20 summit. ROME - (AP) - The Latest on the Group of 20 summit taking place in Rome: (Ludovic Marin, Pool Photo via AP) (Ludovic Marin) Octoat 11:50 am EDT The two-day Group of 20 summit is the first in-person gathering of leaders of the world's biggest economies since the COVID-19 pandemic started. Italy G20 Summit French President Emmanuel Macron, right, speaks with India's Prime Minister Narendra Modi during a group photo at the La Nuvola conference center for the G20 summit in Rome, Saturday, Oct.
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