multinational corporations Archives

US and Asian Executives Converge on San Francisco for APEC Summit

November 15, 2023November 23, 2023 Business

Executives from leading multinational corporations are attending the APEC summit in San Francisco to tackle trade challenges and improve US-China relations. Companies are eager to maintain access to the Chinese market amidst regulatory changes. High-profile executives, including those from Microsoft, Citigroup, Exxon Mobil, Tesla, and SpaceX, are attending the summit to discuss concerns and ambitions. Possible signs of thawing relations include the potential unveiling of a purchase agreement by China for Boeing’s 737 Max jetliner. Discussions will cover AI, access to the Chinese market, and the risks and rewards of operating in China.

International Tax Haven Agreement Weakened by Loopholes, Warns EU Tax Observatory

October 23, 2023November 23, 2023 Business

The EU Tax Observatory has warned that the ambitious international agreement to tackle tax havens and minimum taxation for multinational corporations is deficient and will only raise a small fraction of the anticipated revenue. Loopholes in the agreement have drained much of the expected revenue, resulting in the minimum tax generating less than 5% of corporate tax revenue. The EU Tax Observatory also expressed concerns about the potential for continued tax evasion due to exemptions and caveats in the agreement. Additionally, the group highlighted the risks associated with tax breaks for green technologies, which could worsen inequality and reduce government revenues. While the EU Tax Observatory praised efforts to combat lebturers’ use of tax havens.