Topic: global minimum tax
As Bermuda contemplates corporate income tax, should Cayman follow suit?
The Cayman Islands should resist global pressure to introduce corporate income taxes, financial services industry leaders have insisted.
Financial industry unconcerned about new global tax rate
The Cayman Islands has nothing to fear from a new global minimum corporate tax rate, financial industry leaders insist.
OECD declares global corporate minimum tax ‘now a reality’
The OECD has said global corporate tax reform plans are well underway with the implementation of a global minimum corporate tax through new legislation in the EU, the UK, Switzerland, Japan, Korea and many other countries.
OECD ups the estimated revenue gains from global minimum tax
The OECD has raised estimates for additional tax revenues from its proposed two pillar solution for global corporate tax reform.
OECD says new data underlines multinational tax-avoidance risks
The latest corporate tax statistics from more than 160 countries highlight the continued risk of profit shifting by multinationals and underlined the need for international tax reform, according to the OECD.
OECD delays timeline for global tax reform implementation
Global tax reform plans, negotiated under the lead of the Organisation for Economic Cooperation and Development, are now to enter into force in 2024, a year later than originally planned.
US terminates tax treaty over Hungary’s veto to global minimum tax
The U.S. Treasury announced on Friday it would cancel a 1979 tax treaty with Hungary, after the country moved to block the European Union's implementation of a new 15% global minimum tax.
EU members push back against fast adoption of minimum tax
At an EU Council meeting on Tuesday, several EU finance ministers have cast doubt on the block’s plans to be among the first to adopt rules for a global minimum corporate tax rate of 15%.
Year in review: 136 countries agreed global corporate tax reform deal
In October, 136 countries, representing 90% of global economic output, agreed to reform the international corporate tax system and impose a 15% tax rate on the largest multinational enterprises from 2023.
G20 finance ministers endorse corporate tax reform
Finance ministers from the world’s largest economies endorsed global OECD-brokered tax reform plans at a meeting in Washington, DC, on Wednesday, 13 Oct.
136 countries strike minimum corporate tax deal
Countries representing 90% of global economic output have finalised an agreement to reform the international tax system and impose a 15% tax rate on...
G20 endorses tax reform deal
The G20 support of the tax deal was expected after 130 members of the OECD Inclusive Framework on BEPS earlier this month joined a new two-pillar plan to reform international tax rules.
What is the global minimum tax and how will it impact Cayman?
Tax advocates say the global minimum tax will be a major blow to jurisdictions that have no corporate income tax, like the Cayman Islands, and countries with low tax rates.
What does a global minimum corporate tax mean for Caribbean financial centres?
The global minimum CIT would require a corporation from a country which implements this floor to pay taxes on its profits at this particular rate, even if those profits are declared overseas.
G7 agrees on 15% minimum corporate tax rate
The Group of Seven nations on Saturday agreed on a deal for a minimum corporate tax rate of 15%.
Tax group: OECD minimum tax could impede economy recovery
OECD plans for a global minimum tax could seriously halt the economic recovery following the COVID-19 pandemic, according to the National Taxpayers Union.
