G-20 finance chiefs mull ‘fair tax’ reforms to boost growth

FAN Editor
Image 1 of 2

Police officers stand guard to check the vehicles near the venue of G20 Finance Ministers’ and Central Bank Governors’ Meeting Friday, June 7, 2019, in Fukuoka, western Japan. (AP Photo/Eugene Hoshiko)

Finance chiefs of the Group of 20 major economies meeting in the Japanese city of Fukuoka are debating how to revise tax systems to ensure big companies pay their fair share and support economies as global growth slows.

Continue Reading Below

U.S. Treasury Secretary Steven Mnuchin said Saturday that tax policies must capture the “digitalization” of business to prevent a “race to the bottom” by countries trying to lure companies by offering unsustainably and unfairly low tax rates as an incentive.

Japanese Finance Minister Taro Aso says there must be “no big losers” due to the reforms, which he says could be the most significant in a century.

In Washington, meanwhile, President Donald Trump tweeted that he will refrain from a 5% tariff on exports from Mexico, citing progress on the migration issue.

Free America Network Articles

Leave a Reply

Next Post

Tiffany & Co.'s Dependence on Chinese Tourists Is a Bright-Red Flag

Tiffany & Co. (NYSE: TIF) was once considered a recession-resistant stock, since demand for high-end jewelry generally stays stable during market downturns. However, the financial crisis a decade ago still took a big bite of Tiffany’s sales, and indicated that its average customers weren’t affluent enough to withstand the global […]