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Multinationals

All articles tagged with #multinationals

politics1 year ago

Trump's Election Win Threatens Global Tax Deal and Corporate Cuts

Donald Trump's election victory threatens the global corporate tax deal established by the OECD, which aims to prevent multinational companies from avoiding taxes by shifting profits across borders. The deal's second pillar, which enforces a minimum 15% tax rate, is at risk as countries fear US retaliation, such as tariffs, if they apply the rule to American companies. The US, under Trump's leadership, may not support the deal, potentially leading to trade tensions and unilateral digital services taxes by other countries.

via Financial Times|
#global-tax#multinationals#oecd
businessfinance2 years ago

"Worldwide Adoption of 15% Minimum Corporate Tax Expected to Boost Global Revenue by $220bn"

A new global minimum tax on multinational corporations has been implemented with the aim of raising up to $220 billion in additional revenue. This measure is designed to prevent large companies from shifting profits to low-tax jurisdictions, ensuring they pay a fairer share of taxes on their earnings. The initiative represents a significant shift in international tax policy, aiming to address the challenges of taxation in the digital economy and curb tax avoidance.

via Financial Times|
#businessfinance#global-minimum-tax#international-economy
business2 years ago

China-UK Relations: Multinationals Assured as UK Firms Delay Investments Amidst Slowing Chinese Economy

China-UK relations are in the process of normalizing, providing assurance to multinationals from both countries on their investments. UK companies are expected to increase their investment in sectors such as healthcare, clean energy, and artificial intelligence in China. While there is uncertainty due to the upcoming UK election, it is believed that the deep relations between China and the UK will not be significantly affected. Former UK prime minister David Cameron's appointment as foreign secretary is seen as positive, given his experience in dealing with China. A survey shows that UK companies are cautiously optimistic about their business in China, with many expecting to increase investment due to alignment with China's growth objectives. The Chinese market offers opportunities for growth and greater demand for products and services.

via Global Times|
#business#china-uk-relations#economic-growth
business2 years ago

Vietnam Parliament Approves Global Minimum Corporate Tax, Impacts Samsung and Intel

Vietnam's parliament has approved a global tax reform that will raise the effective tax rate on multinationals, including Samsung, to 15% starting from January 1. The move is expected to impact foreign investments in the country. The government has also delayed measures to offset the higher levy, potentially affecting the economy. Vietnam's corporate income tax is currently set at 20%, but it has offered lower effective rates to large foreign investors. The new tax rate will result in a significant increase in tax costs for 122 foreign companies, with Samsung likely to bear a large portion of the additional tax bill. The government estimates the additional tax revenue at 14.6 trillion dong ($601 million) per year.

via Reuters|
#business#corporate-tax#foreign-investment
business2 years ago

"Vietnam Joins Global Effort to Increase Tax Rates for Multinational Corporations"

Vietnam's parliament is expected to approve a top-up tax for multinationals, raising the effective corporate levy rate to 15% from January in line with a global agreement. The separate resolution to compensate large foreign investors affected by the higher levy, including Samsung and Intel, is not on the parliament's agenda. The controversial tax could reduce Vietnam's appeal among foreign companies if not accompanied by subsidies. The parliament initially ruled out a vote on the tax but has now added it back to its schedule. The new rules, guided by the OECD, will require companies paying less than 15% in a low-tax jurisdiction to face a top-up levy from next year.

via Reuters|
#business#corporate-levy#global-agreement
finance2 years ago

The Impending Challenge: Surging U.S. Dollar Threatens Stock-Market Bulls

Analysts are warning that the surge in the U.S. dollar may pose a problem for U.S. stocks as they struggle through a losing September. A stronger dollar makes goods more expensive for overseas buyers and reduces the value of income earned overseas on income statements. The U.S. dollar has strengthened rapidly in response to the Federal Reserve's interest rate hikes, and this could negatively impact U.S. multinationals. The rising dollar also tightens financial conditions, adding to other headwinds for stocks heading into the fourth quarter.

via MarketWatch|
#finance#headwinds#multinationals