G20 ministers endorse ‘historic’ global deal to tax multinationals

G20 finance ministers on Saturday gave their backing to a “historic” global deal to tax multinational companies more fairly and urged hold-out countries to sign up. A framework for international tax reform, including a minimum corporate rate of 15%, was agreed this month by 131 countries. But the endorsement by the 19 biggest economies plus the European Union will help ensure it becomes a reality following years…

The importance of Corporate Economic Substance

The issue of corporate economic substance is high on the agenda of tax authorities globally, following recent developments to improve fairness and cooperation in international tax. Following requests from the EU’s Code of Conduct Group (Business Taxation), the ‘Crown dependencies’ have agreed to introduce legislation that will require resident companies carrying on certain specified activities…