(05 July 2021) At the beginning of July 2021, 130 countries and territories joined a plan, developed in negotiations coordinated by the OECD, to reform the international taxation system and ensure that multinational enterprises pay a fair share of tax wherever they operate. The plan is expected to be implemented starting in 2023.
Key outcomes of the initiative:
Ireland and some other tax havens whose current corporate tax is lower than 15% have not signed the deal, fearing an outflow of multinational enterprises from their jurisdictions. The countries currently endorsing the plan represent more than 90% of global GDP.
Live data and insights on Coronavirus around the world, including detailed statistics for the US, EU, and China — confirmed and recovered cases, deaths, alternative data on economic activities, customer behavior, supply chains, and more.
Politics has long been considered as a 'man's world.' Even today, women remain significantly underrepresented in legislative and executive branches of government globally despite research that suggests a strong connection between women in leadership and economic and democratic gains. Today one-fifth of the world's parliamentarians and less than one quarter of national leaders are women. Rwanda, Cuba and Bolivia have the highest share of women parliamentarians, however, Europe has traditionally maintained the highest representation of women in government. As of June 2016, the...
What started on November 17 as a revolt against rising fuel taxes in France has now lasted six consecutive weekends and evolved into a full-blown rejection of the socioeconomic policies of French President Emmanuel Macron. Protestors targeting of stagnant wages, rising prices and taxes, high unemployment in rural areas, pension security, government spending on bureaucrats, university entry requirements, and other issues has yielded some concessions—such as a minimum wage increase—yet protestors remain positioned in traffic roundabouts, poised for protests into the new year. In...
(19 July 2021) As a part of the European Green Deal, the European Commission has presented a carbon border adjustment mechanism (CBAM) for selected sectors aimed at addressing the risk of climate change by reducing GHG emissions in the European Union and globally. The current list of CBAM goods include five broad commodity groups — aluminum, cement, electricity, fertilizers, and iron and steel — but the list may be extended in the future. To ensure that the price of imports more accurately reflects their carbon content, EU imports of CBAM goods (or domestic consumption of imported...
Doing Business 2015: Going Beyond Efficiency, a World Bank Group flagship publication, is the 12th in a series of annual reports measuring the regulations that enhance business activity and those that constrain it. Doing Business presents quantitative indicators on business regulations and the protection of property rights that can be compared across 189 economies—from Afghanistan to Zimbabwe—and over time. Doing Business measures regulations affecting 11 areas of the life of a business. Ten of these areas are included in this year’s ranking on the ease of doing business: starting...
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