Justice minister, DGA chief discuss partnership to boost digital judicial services    Netanyahu does not rule out further strikes on Hamas leaders    US farmers are being squeezed – and it's testing their deep loyalty to Trump    Romania condemns 'irresponsible' Moscow after Russian drone breaches its airspace    Kirk's assassination is forcing US politicians to make difficult choices about their safety    India players refused handshakes, says Pakistan coach    Final stage of Spanish Vuelta cycling race abandoned after disruption by pro-Palestine protesters    Mané fires Al Nassr past Al Kholood to keep perfect start as Ronaldo honored    Lacazette brace earns NEOM SC first Saudi Pro League win    Adolescence star Owen Cooper makes Emmys history at 15    Saudi liquidity grows 8.4%, reaching SR3.1 trillion in July 2025    Over 434,000 people acquire first aid skills during nationwide health campaign    Saudi Arabia's legislative advancement highlighted at International Conference on Judicial Training    Sudden swerving among 3 major causes of accidents in Riyadh in 2024    Princess Haifa emphasizes pivotal Saudi role in shaping future of tourism    Sahm Capital names Saudi Olympian Fayik Abdi as brand ambassador    SR9000 fine for copyright infringement using AI    King Charles and Prince Harry finally reunite after 19 months apart    Anastacia: Arnold Schwarzenegger made me sing Whatta Man 12 times    Thousands pay their last respects to Giorgio Armani, private funeral on Monday    The key to happiness    Sholay: Bollywood epic roars back to big screen after 50 years with new ending    Ministry launches online booking for slaughterhouses on eve of Eid Al-Adha    Shah Rukh Khan makes Met Gala debut in Sabyasachi    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



World's top economies endorse global corporate tax at G20 summit
Published in The Saudi Gazette on 30 - 10 - 2021

The leaders of the world's major economies endorsed a 15% global minimum corporate tax as they gathered in Italy this weekend as Rome hosts its first G20 summit.
The global health crisis, economic recovery, and climate change is at the top of this year's agenda with delegates discussing in particular how to reduce the inequalities brought on by the COVID-19 pandemic and the uneven rollout of vaccines.
Italian Prime Minister Mario Draghi welcomed world leaders on Saturday at the Nuvola Convention Centre in the Italian capital's EUR neighborhood.
"It is clear that multilateralism is the best answer to the problems that we face today. In many ways it is the only possible answer.
"From the pandemic, to climate change, to fair and equitable taxation, going it alone is simply not an option," said Draghi in his opening speech at the G20.
He added that the difference in COVID-19 vaccination levels between high-income and low-income countries was "morally unacceptable and undermine the global recovery."
US President Joe Biden, meanwhile, hailed the approval of a global minimum corporate tax, which was widely expected after finance ministers endorsed the move in July.
"Here at the G20, leaders representing 80% of the world's GDP — allies and competitors alike — made clear their support for a strong global minimum tax.
"This is more than just a tax deal — it's diplomacy reshaping our global economy and delivering for our people," Biden tweeted.
The summit comes on the eve of the UN's climate change conference, the COP26, which starts on Monday in Glasgow. Italy and others hope world leaders will set a deadline to reach net-zero greenhouse gas emissions.
UN Secretary-General Antonio Guterres said ahead of the summit that the world was "careening towards climate catastrophe" and that "we need more ambition and more action and that will only be possible with a massive mobilization of political will and that requires trust among the key actors."
"The most important objective of this G20 summit must be to reestablish trust," Guterres added at a press conference.
Organizing the first in-person summit of the world's largest economies since the start of the coronavirus emergency brings a lot of responsibilities, which includes tight security.
Rome security chiefs sealed off a 10-square kilometer area of the capital's EUR district.
The government says the summit will take place under "maximum security", with a "red zone" extending between the Nuvola and the nearby Palazzo dei Congressi constantly monitored by helicopters, snipers, and drones.
Around 2,000 police officers and 500 soldiers have been deployed for the two-day event, not only to secure the area but also to monitor any other sensitive sites including critical government buildings and foreign embassy headquarters.
Italy's intelligence agency has been monitoring online activity on social media platforms to check whether there will be unauthorized protests.
Only the rallies that have been classified as "safe" were given the go-ahead provided that they will be staged far away from the location of the summit.
For the duration of the event, Rome's airspace will be monitored by the army, with a no-fly zone over most of the capital and border controls reintroduced. — Euronews


Clic here to read the story from its source.