https://www.scmp.com/rss/510215/feed Latest news and updates on the proposed global minimum tax rate that aims to clamp down on tax evasion and prevent countries from competing by offering lower taxes to attract multinationals. Group of 7 (G7) leaders, Group of 20 (G20) finance ministers as well as the 132-member Organisation for Economic Co-operation and Development (OECD) have all backed setting a minimum global corporate tax rate of at least 15 per cent. The move aims to prevent multinationals - including tech giants like... en https://assets.i-scmp.com/static/img/icons/scmp-meta-1200x630.png https://www.scmp.com SCMP Editorial SCMP Editorial Two listed firms under China Resources Group are planning to redomicile from the Cayman Islands to Hong Kong. They will follow similar actions by the Hong Kong units of French insurer AXA and Canadian insurer Manulife, both from Bermuda. Thanks to new changes in local law, such redomiciling is becoming a trend and can only be good for corporate business and professional employment in the city. Business 101 usually explains the difference between the domicile of a company and its headquarters.... https://www.scmp.com/opinion/comment/article/3327783/firms-redomiciling-hong-kong-can-only-be-good-business?utm_source=rss_feed https://www.scmp.com/opinion/comment/article/3327783/firms-redomiciling-hong-kong-can-only-be-good-business?utm_source=rss_feed Sun, 05 Oct 2025 23:15:12 +0000 Enoch Yiu Enoch Yiu Two listed companies under China Resources Group are planning to redomicile from the Cayman Islands to Hong Kong, marking the first batch of listed companies to reincorporate in the city under a new law, with analysts believing the trend will continue. China Resources Beverage (Holdings), the country’s second-largest water bottler under the brand C’estbon, has proposed to redomicile from the Cayman Islands to Hong Kong to reduce operating costs, according to a stock exchange filing late Friday... https://www.scmp.com/business/banking-finance/article/3327085/listed-china-resources-units-plan-redomicile-hong-kong-part-global-expansion?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3327085/listed-china-resources-units-plan-redomicile-hong-kong-part-global-expansion?utm_source=rss_feed Sat, 27 Sep 2025 07:37:14 +0000 Leopold Chen Leopold Chen The British Virgin Islands (BVI), one of the preferred incorporation destinations for Hong Kong and mainland Chinese companies, may conduct feasibility studies on imposing a global minimum tax rate next month. The islands, which are a British Overseas Territory, asked consulting firm KPMG to identify companies that would be subject to the rate, according to BVI Premier Natalio Wheatley. In an interview last week, he said KPMG’s results would be delivered in March. “Once we have that information,... https://www.scmp.com/business/article/3299850/british-virgin-islands-study-feasibility-global-minimum-tax-rate-next-month-premier?utm_source=rss_feed https://www.scmp.com/business/article/3299850/british-virgin-islands-study-feasibility-global-minimum-tax-rate-next-month-premier?utm_source=rss_feed Mon, 24 Feb 2025 03:26:50 +0000 This year’s proliferation of democratic elections, combined with the largely unfunded costs of the global polycrisis, has led to an upwelling of calls from countries worldwide to raise taxes on the rich. The mood is the same, whether among US Democrats ahead of November’s presidential elections, in the office of the UK’s newly appointed Chancellor of the Exchequer Rachel Reeves as she prepares her autumn budget or with French President Emmanuel Macron, who has recently joined Brazilian President... https://www.scmp.com/opinion/world-opinion/article/3278355/why-global-tax-super-rich-least-bad-option-tackle-crises?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3278355/why-global-tax-super-rich-least-bad-option-tackle-crises?utm_source=rss_feed Fri, 13 Sep 2024 08:30:08 +0000 In July 1944, delegates from 44 countries gathered in a UN-sponsored conference in Bretton Woods, New Hampshire to decide on a post-World War II monetary and financial order. In the closing speech of the gathering, then US Treasury secretary Henry Morgenthau concluded that the conference had succeeded in addressing the twin “economic evils – the competitive currency devaluation and destructive impediments to trade” that led to the war. To prevent competitive devaluation, the Bretton Woods... https://www.scmp.com/opinion/world-opinion/article/3277446/bretton-woods-should-heed-cries-fair-play-or-go?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3277446/bretton-woods-should-heed-cries-fair-play-or-go?utm_source=rss_feed Fri, 06 Sep 2024 14:30:08 +0000 In recent decades, the availability of preferential tax regimes and tax havens has deprived governments worldwide of huge amounts of revenue. According to the EU Tax Observatory, multinational corporations shifted US$1 trillion – the equivalent of 35 per cent of all the profits booked outside their headquarter countries – to tax havens in 2022. Meanwhile, super-rich individuals faced very low effective tax rates, equivalent to just 0-0.5 per cent of their total collective wealth. The problem is... https://www.scmp.com/opinion/world-opinion/article/3272909/how-global-tax-negotiations-can-improve-fairness-and-transparency?utm_source=rss_feed https://www.scmp.com/opinion/world-opinion/article/3272909/how-global-tax-negotiations-can-improve-fairness-and-transparency?utm_source=rss_feed Fri, 02 Aug 2024 08:30:12 +0000 US Treasury Secretary Janet Yellen said on Friday she is trying to save a part of the global corporate tax deal focused on highly profitable multinational firms, but India is refusing to engage on issues important to US interests. Yellen said on the sidelines of a G7 finance leaders meeting in Italy that China also has been “all but absent” in the negotiations to finalise “Pillar 1” of the OECD corporate tax deal reached in principle in 2021 that involves 140 countries. “We are actively engaged... https://www.scmp.com/news/world/united-states-canada/article/3264079/frustrated-us-says-india-china-hindering-global-corporate-tax-deal-deadline-nears?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3264079/frustrated-us-says-india-china-hindering-global-corporate-tax-deal-deadline-nears?utm_source=rss_feed Sat, 25 May 2024 03:30:16 +0000 The Hong Kong government could take in about HK$10 billion (US$1.28 billion) in additional tax revenue per year once it implements a new 15 per cent global minimum tax for large multinational companies, according to Hong Kong’s tax office head. Several hundred large multinational companies will be liable under the new regime, Commissioner of Inland Revenue Tam Tai-pang told lawmakers in a Legislative Council financial affairs panel meeting on Monday. “Based on these several hundred companies’... https://www.scmp.com/business/article/3251000/hong-kong-tax-revenue-could-expand-us128-billion-under-global-minimum-levy-corporations-official?utm_source=rss_feed https://www.scmp.com/business/article/3251000/hong-kong-tax-revenue-could-expand-us128-billion-under-global-minimum-levy-corporations-official?utm_source=rss_feed Mon, 05 Feb 2024 09:45:20 +0000 Indonesia seems desperate to join the Organisation for Economic Cooperation and Development (OECD), regarded as a rich man’s club. President Joko Widodo is pushing for an accelerated process and announced in October that it would set up a national committee to do so. Indonesia has been a key partner of the OECD since 2007 and is familiar with its workings. Still, its target of completing accession within four years is ambitious, when the process can take five to eight years. The last two members... https://www.scmp.com/comment/opinion/article/3246057/why-indonesia-shouldnt-rush-join-oecd-rich-mans-club?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3246057/why-indonesia-shouldnt-rush-join-oecd-rich-mans-club?utm_source=rss_feed Sat, 30 Dec 2023 21:30:20 +0000 Hong Kong’s decision to implement the 15 per cent global minimum tax for large multinational companies from 2025 could undermine the city’s efforts to offer tax incentives to attract new businesses in the future, according to industry players. The government on Thursday issued a consultation paper to collect views until March 20 on the implementation of the tax agreed by almost 140 countries in a landmark deal in 2021. The new level of tax will only apply to big multinational enterprises. Most... https://www.scmp.com/business/banking-finance/article/3245915/global-minimum-15-corporate-tax-may-undermine-hong-kongs-tax-incentives-attract-businesses-lawmaker?utm_source=rss_feed https://www.scmp.com/business/banking-finance/article/3245915/global-minimum-15-corporate-tax-may-undermine-hong-kongs-tax-incentives-attract-businesses-lawmaker?utm_source=rss_feed Thu, 21 Dec 2023 12:30:17 +0000 Letters Letters Feel strongly about these letters, or any other aspects of the news? Share your views by emailing us your Letter to the Editor at letters@scmp.com or filling in this Google form. Submissions should not exceed 400 words, and must include your full name and address, plus a phone number for verification. The US army just had one of its worst recruitment years in decades. Some right-wing demagogues tried to blame the woke movement, but the army clarified that the younger generation’s concerns over... https://www.scmp.com/comment/letters/article/3211793/millennials-world-are-just-not-war?utm_source=rss_feed https://www.scmp.com/comment/letters/article/3211793/millennials-world-are-just-not-war?utm_source=rss_feed Wed, 01 Mar 2023 03:30:12 +0000 From Russia’s invasion of Ukraine to surging inflation and rising social costs, the finance ministers of Hong Kong and Singapore have plenty on their minds. And if all that wasn’t enough, there is also the planned global minimum corporate tax of 15 per cent to fret about – as mentioned by both of them in recent budget speeches. The sweeping reform of international tax rules – engineered by the Organisation for Economic Co-operation and Development (OECD) and agreed by more 130 jurisdictions last... https://www.scmp.com/week-asia/economics/article/3170967/amid-ukraine-war-inflation-headwinds-singapore-and-hong-kong?utm_source=rss_feed https://www.scmp.com/week-asia/economics/article/3170967/amid-ukraine-war-inflation-headwinds-singapore-and-hong-kong?utm_source=rss_feed Mon, 21 Mar 2022 00:00:16 +0000 A group of more than 100 billionaires and millionaires has issued a plea to political and business leaders convening virtually for the World Economic Forum: make us pay more tax. The group calling itself the “Patriotic Millionaires” said that the ultra-wealthy were not currently being forced to pay their share of the global economic recovery from the coronavirus pandemic. “As millionaires, we know that the current tax system is not fair. Most of us can say that, while the world has gone through... https://www.scmp.com/news/world/europe/article/3163890/make-us-pay-more-tax-millionaires-group-tells-world-economic?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/3163890/make-us-pay-more-tax-millionaires-group-tells-world-economic?utm_source=rss_feed Wed, 19 Jan 2022 01:55:07 +0000 Life is unfair but what can we do about it? The world continues to tolerate the growing injustice of inequalities in income, wealth and, most recently, vaccine distribution. French political economist Thomas Piketty and his colleagues at the World Inequality Lab has just published the World Inequality Report 2022, a gold mine of data and insights. I found at least three nuggets. First, inequality is primarily a political issue. We can all do something about it, but since politics has been... https://www.scmp.com/comment/opinion/article/3159998/world-needs-summit-tackle-climate-and-wealth-inequalities?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3159998/world-needs-summit-tackle-climate-and-wealth-inequalities?utm_source=rss_feed Fri, 17 Dec 2021 17:30:22 +0000 Leaders of the world’s biggest economies on Saturday endorsed a global minimum tax on corporations, a linchpin of new international tax rules aimed at blunting the edge of fiscal paradises amid skyrocketing profits of some multinational businesses. The move by the Group of 20 summit in Rome was hailed by US Treasury Secretary Janet L. Yellen as benefiting American businesses and workers. G20 finance ministers in July had already agreed on a 15 per cent minimum tax. It awaited formal endorsement... https://www.scmp.com/news/world/united-states-canada/article/3154331/g20-leaders-endorse-global-corporate-minimum-tax?utm_source=rss_feed https://www.scmp.com/news/world/united-states-canada/article/3154331/g20-leaders-endorse-global-corporate-minimum-tax?utm_source=rss_feed Sun, 31 Oct 2021 05:30:48 +0000 The heads of the world’s 20 biggest economies kicked off two days of talks on Saturday where they were set to acknowledge the existential threat of climate change, but stop short of radical new commitments to tame global warming. Looming over the two-day talks in Rome is pressure to make headway on tackling global warming, ahead of the key COP26 summit kicking off in Glasgow on Monday. The stakes are high, with United Nations Secretary General Antonio Guterres warning G20 leaders on Friday to... https://www.scmp.com/news/world/article/3154298/heads-worlds-20-biggest-economies-kick-two-days-talks-climate-change?utm_source=rss_feed https://www.scmp.com/news/world/article/3154298/heads-worlds-20-biggest-economies-kick-two-days-talks-climate-change?utm_source=rss_feed Sat, 30 Oct 2021 12:16:47 +0000 Which government is working to reduce income inequality, raise wages, improve welfare for workers, get companies and financial investors to pay their fair share of taxes and improve the environment? China? The United States? Japan? Britain? Germany? The answer is all of the above. Among these, though, China has been in spotlight this year with a flurry of regulatory changes aimed at achieving “common prosperity”. These include improving income equality, controlling home prices for better... https://www.scmp.com/comment/opinion/article/3152315/global-shift-towards-greater-equality-shows-chinas-common?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3152315/global-shift-towards-greater-equality-shows-chinas-common?utm_source=rss_feed Fri, 15 Oct 2021 06:30:15 +0000 Finance leaders from the Group of 20 (G20) major economies on Wednesday endorsed a global deal to revamp corporate taxation and pledged to sustain fiscal support for their economies while keeping a close eye on inflation. The G20 finance ministers and central bank governors also said in a communique issued after a meeting in Washington that the International Monetary Fund (IMF) should establish a new trust fund to channel a US$650 billion issuance of IMF monetary reserves to a broader range of... https://www.scmp.com/economy/global-economy/article/3152293/g20-backs-global-minimum-tax-deal-pledges-safeguard-covid-19?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3152293/g20-backs-global-minimum-tax-deal-pledges-safeguard-covid-19?utm_source=rss_feed Thu, 14 Oct 2021 03:47:03 +0000 Nearly 140 countries have agreed on a tentative deal that would make sweeping changes to how big multinational companies are taxed and deter them from stashing profits in offshore havens where they pay little or no tax. Under the agreement announced Friday, countries would enact a global minimum corporate tax of 15 per cent on the biggest, internationally active firms, reaping an estimated US$150 billion for government coffers once implemented. US President Joe Biden has been one of the driving... https://www.scmp.com/news/world/europe/article/3151740/nearly-140-countries-reach-deal-historic-global-corporate-minimum?utm_source=rss_feed https://www.scmp.com/news/world/europe/article/3151740/nearly-140-countries-reach-deal-historic-global-corporate-minimum?utm_source=rss_feed Fri, 08 Oct 2021 18:06:50 +0000 Countries must resolve disagreements in the coming days over details of new global rules to share tax revenues from the world’s biggest companies and set a minimum rate, or the talks could founder, French finance minister Bruno Le Maire said.  Raising the alarm at the prospect that years of negotiations could miss a vital window of opportunity at a meeting on Friday of the 140 countries involved, the minister outlined his hopes for a compromise in a briefing with reporters on Tuesday.  “A... https://www.scmp.com/economy/global-economy/article/3151342/global-tax-rules-within-reach-its-now-or-never-ahead-key?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3151342/global-tax-rules-within-reach-its-now-or-never-ahead-key?utm_source=rss_feed Wed, 06 Oct 2021 05:29:18 +0000 China should conduct targeted research and propose fiscal and taxation plans in response to new global rules to set a minimum corporate tax, according to a former taxation official. Beijing needs to act to minimise the negative impact on the investment environment of foreign businesses in China and defend the country’s taxation rights and interests, said Liao Tizhong, former director general of the State Administration of Taxation’s International Taxation Department. China should analyse the... https://www.scmp.com/economy/china-economy/article/3144771/china-urged-act-minimise-impact-global-minimum-tax-rules-seen?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3144771/china-urged-act-minimise-impact-global-minimum-tax-rules-seen?utm_source=rss_feed Thu, 12 Aug 2021 08:30:20 +0000 China has reiterated its commitment to a global minimum tax scheme that would target global technology giants. Finance Minister Liu Kun said on Friday that the introduction of a global minimum corporate tax rate of 15 per cent would help to create a fair and sustainable international tax system. “China is a big digital economy. We have always adhered to the spirit of multilateralism and an open and cooperative attitude,” Liu told a press conference. “We have actively participated in the... https://www.scmp.com/economy/china-economy/article/3143304/china-says-it-will-continue-work-fairer-global-minimum-tax?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3143304/china-says-it-will-continue-work-fairer-global-minimum-tax?utm_source=rss_feed Sat, 31 Jul 2021 05:58:06 +0000 The global minimum corporate tax – agreed upon by Group of 20 finance ministers this month – is set to re-chart the course of international investment flows, creating new uncertainties for Southeast Asian nations that have been striving to lure foreign capital and financial expertise. Final agreement on the 15 per cent minimum-tax plan, originally agreed to by Group of 7 (G7) developed economies in early June, is not expected until October. It could also be years before it takes effect. But its... https://www.scmp.com/economy/china-economy/article/3142100/asean-nations-left-exposed-global-minimum-corporate-tax-seen?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3142100/asean-nations-left-exposed-global-minimum-corporate-tax-seen?utm_source=rss_feed Fri, 23 Jul 2021 04:59:56 +0000 Hong Kong’s low tax rate has been a major incentive for American businessman Nicholas Appel to live and work in the city for the past 25 years. But along with challenges like the city’s high cost of living, the prospect of higher taxes under a minimum global corporate tax rate is one more reason to wonder whether it is worth staying. “We really love Hong Kong but it’s not a sustainable place to live in if you don’t have income to support it,” Appel said. “If the profitability of a business as a... https://www.scmp.com/economy/china-economy/article/3140916/global-minimum-tax-could-hong-kongs-status-business-hub-be?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3140916/global-minimum-tax-could-hong-kongs-status-business-hub-be?utm_source=rss_feed Wed, 14 Jul 2021 03:00:06 +0000 The headline writers make it all sound so clear, simple and good: “World’s leading economies agree on global minimum corporate tax rate” said the Financial Times. In truth, the tax plan is more likely to be messy, strangled by caveats and carve-outs, and a veritable feast for tax avoidance experts. At worst, it will crash and burn. At best, it seems likely to have little impact either on the taxes that companies pay or the revenues that cash-strapped governments hope to pick up. This practical... https://www.scmp.com/comment/opinion/article/3140632/why-new-global-corporate-tax-regime-unlikely-be-clear-simple-or?utm_source=rss_feed https://www.scmp.com/comment/opinion/article/3140632/why-new-global-corporate-tax-regime-unlikely-be-clear-simple-or?utm_source=rss_feed Sun, 11 Jul 2021 17:30:16 +0000 Finance ministers and central bankers from the world’s biggest economies plan to warn of persistent risks to global growth from coronavirus variants even as the overall outlook brightens, according to a draft communique seen by Bloomberg News. Since April, “the global outlook has further improved, mainly due to the roll-out of vaccines and continued policy support”, according to a draft of the Group of 20’s statement, scheduled to be released on Saturday in Venice, where policymakers are... https://www.scmp.com/economy/article/3140596/g20-warn-risks-coronavirus-variants-amid-great-divergences-global-economic?utm_source=rss_feed https://www.scmp.com/economy/article/3140596/g20-warn-risks-coronavirus-variants-amid-great-divergences-global-economic?utm_source=rss_feed Fri, 09 Jul 2021 23:54:42 +0000 In 2009, economist Jim Power went on prime-time Irish television to advocate temporarily raising the corporate tax rate by 5 per cent as a way of helping the country out of a historic economic crash that decimated its national finances. Not only would this help restore the public purse, he contended, it would also “build solidarity” with corporations that had been enjoying enormous tax savings while many of the country’s citizens were losing their jobs and homes. “The reaction I got from all... https://www.scmp.com/economy/china-economy/article/3140346/global-minimum-tax-ireland-and-other-holdouts-face-mounting?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3140346/global-minimum-tax-ireland-and-other-holdouts-face-mounting?utm_source=rss_feed Thu, 08 Jul 2021 10:30:13 +0000 China’s decision to back a global overhaul of cross-border taxation aimed at preventing a race to the bottom on tax rates and halting multinational tax evasion is likely to hinge on diplomatic calculations as much as economic concerns, according to experts. The Paris-based Organisation for Economic Cooperation and Development (OECD) said last week 130 nations, including China, had supported a proposal for a minimum tax rate of at least 15 per cent pushed by US President Joe Biden. The agreement... https://www.scmp.com/economy/china-economy/article/3140209/china-has-ample-room-absorb-global-minimum-tax-still-prickly?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3140209/china-has-ample-room-absorb-global-minimum-tax-still-prickly?utm_source=rss_feed Wed, 07 Jul 2021 22:00:15 +0000 Both Hong Kong and mainland China have backed the United States-led initiative to implement a global minimum tax rate, with the city’s financial secretary supporting efforts by the international community to “combat tax evasion”. Mainland China, as well as its special administrative regions of Hong Kong and Macau, are among the 130 economies that have signed on to the “Statement on a Two-Pillar Solution to Address the Tax Challenges Arising from the Digitalisation of the Economy”, which proposes... https://www.scmp.com/economy/article/3139660/hong-kong-backs-us-led-global-effort-combat-tax-evasion-mainland-china-also?utm_source=rss_feed https://www.scmp.com/economy/article/3139660/hong-kong-backs-us-led-global-effort-combat-tax-evasion-mainland-china-also?utm_source=rss_feed Fri, 02 Jul 2021 12:50:36 +0000 Most of the countries negotiating a global overhaul of cross-border taxation of multinationals have backed plans for new rules on where companies are taxed and a tax rate of at least 15 per cent, they said on Thursday after two days of talks. The Paris-based Organisation for Economic Cooperation and Development, which hosted the talks, said a global minimum corporate income tax of at least 15 per cent could yield around US$150 billion in additional global tax revenues annually. It said 130... https://www.scmp.com/economy/china-economy/article/3139526/china-among-130-countries-back-global-minimum-corporate-tax?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3139526/china-among-130-countries-back-global-minimum-corporate-tax?utm_source=rss_feed Fri, 02 Jul 2021 01:07:43 +0000 Group of 7 (G7) leaders agreed in early June to set a minimum global corporate tax rate of at least 15 per cent. Years in the making, the deal means global businesses such as Google, Apple and Amazon will pay more tax in the markets they sell goods and services, and prevent multinationals shifting profits to jurisdictions where they pay little or no tax. But before it can be implemented, there are still a number of hurdles to clear, including getting the 139 nations under the aegis of the... https://www.scmp.com/economy/china-economy/article/3137882/what-g7s-global-minimum-tax-and-how-could-it-affect-china?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3137882/what-g7s-global-minimum-tax-and-how-could-it-affect-china?utm_source=rss_feed Sun, 20 Jun 2021 12:00:00 +0000 The United States will not agree to any type of special treatment for China or other countries that would weaken a global minimum tax regime, US Treasury Secretary Janet Yellen said on Wednesday. Yellen said the US and other countries were continuing their efforts to convince China to support plans endorsed on Sunday by the Group of 7 (G7) advanced economies. We would not agree to any type of carve-out that would meaningfully weaken a robust global minimum tax regime. Not for China, not for... https://www.scmp.com/economy/global-economy/article/3137592/china-wont-benefit-loopholes-global-minimum-tax-plan-us?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3137592/china-wont-benefit-loopholes-global-minimum-tax-plan-us?utm_source=rss_feed Thu, 17 Jun 2021 02:22:22 +0000 China has been urged to join a push by the United States for a global minimum tax rate, with experts saying it is an opportunity for Beijing to participate in international economic governance and create a common ground with Washington as high-level trade talks resume between the world’s two biggest economies. The corporate tax floor of 15 per cent, agreed in a landmark accord by Group of Seven (G7) finance ministers at the weekend, could form the basis of a worldwide deal that US Treasury... https://www.scmp.com/economy/global-economy/article/3136375/china-urged-join-global-minimum-tax-regime-hong-kong-says-it?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3136375/china-urged-join-global-minimum-tax-regime-hong-kong-says-it?utm_source=rss_feed Mon, 07 Jun 2021 13:00:11 +0000 US President Joe Biden’s proposal to set a minimum global corporation tax at 21 per cent is gaining momentum, with the official running international talks on the matter saying that an agreement could settle near that rate. The Biden administration’s plan has turbocharged negotiations at the Organisation for Economic Cooperation and Development (OECD) on how to overhaul rules on how much tax companies pay, and where. The US suggestion, while subject to negotiations in the US Congress, would be... https://www.scmp.com/economy/global-economy/article/3132420/joe-bidens-push-near-21-cent-global-minimum-corporate-tax?utm_source=rss_feed https://www.scmp.com/economy/global-economy/article/3132420/joe-bidens-push-near-21-cent-global-minimum-corporate-tax?utm_source=rss_feed Thu, 06 May 2021 02:29:26 +0000 While Beijing is unlikely to have a major problem with Washington’s call for the world’s leading economies to agree on a global minimum corporate tax rate, China is nevertheless likely to take a cautious approach in international negotiations given the continued high level of tensions between the two top economies, according to Chinese analysts and academics. A bigger concern for China would be the impact a global minimum corporate tax could have on Hong Kong – the seventh-largest tax haven in... https://www.scmp.com/economy/china-economy/article/3128823/china-quiet-global-minimum-corporate-tax-rate-backed-g20?utm_source=rss_feed https://www.scmp.com/economy/china-economy/article/3128823/china-quiet-global-minimum-corporate-tax-rate-backed-g20?utm_source=rss_feed Thu, 08 Apr 2021 13:28:04 +0000