Show an ad over header. AMP

I am the FIRST!!!

130 countries agree to global minimum corporate tax proposed by U.S.

130 countries around the world — including, crucially, China and India — have agreed on a 15% minimum corporate tax rate, in a move designed to prevent what Treasury Secretary Janet Yellen called a "self-defeating international tax competition."

Why it matters: Corporations will have to pay tax of at least 15% no matter where they operate in the world. The OECD framework, agreed to Thursday but many years in the making, includes penalties for companies and jurisdictions attempting to bypass the rule.


The big picture: Companies have become expert at concentrating their profits in jurisdictions with low or zero corporate tax rates. (Switzerland, Ireland and the Netherlands are all popular.) That tax dodge — which is entirely legal — will become much less attractive once this agreement comes into force.

How it works: The minimum tax will apply to large multinational companies. Any profitable firm with revenues over €20 billion ($24 billion) will be included from the start, with that number expected to decline to €10 billion ($24 billion) in time.

What's next: The rules will be brought into domestic law in 2022, and will take effect in 2023.

The bottom line: Companies will retain broad latitude in where they pay tax; they just won't have as much freedom as they currently do over whether they pay tax.

regular 4 post ff

infinite scroll 4 pff

Sanofi, GSK COVID vaccine shows strong immune response in phase 2 trials

Sanofi and GSK announcedthis morning their COVID-19 vaccine candidate demonstrated a strong immune response in adults in a phase 2 clinical trial.

Why it matters: Sanofi and GSK say their recombinant protein-based vaccine candidate could ultimately serve as a universal COVID-19 vaccine booster, able to boost immunity regardless of the vaccination first received.

Keep reading...Show less

"Starfield” is Microsoft’s blockbuster Xbox game for 2022

“Starfield,” the next big game from the makers of “Fallout” and “The Elder Scrolls” will be released on Nov. 11, 2022 for Xbox consoles and PC — and not for PlayStation, according to a new trailer.

Why it matters: “Starfield” is about as big as it gets in terms of upcoming blockbuster games and will likely be ace for Microsoft commercially.

Keep reading...Show less

Mark Warner emerges as moderates' dealmaker-in-chief

As Senate Majority Leader Chuck Schumer (D-N.Y.) and White House Chief of Staff Ron Klain navigate the legislative minefield of the next few months, they'll often turn to a moderate Democrat who gets far less ink than Sens. Joe Manchin (D-W.Va.) or Kyrsten Sinema (D-Ariz.).

The big picture: Sen. Mark Warner (D-Va.) has become a pivotal player in the multi-trillion-dollar negotiations that will shape the Democrats' electoral prospects, Joe Biden's presidency and the future of the country.

Keep reading...Show less

Latin America and the Caribbean wait for COVID-19 vaccines

Data: Our World In Data; Map: Axios Visuals

Latin America and the Caribbeanhave the highest weekly death rate per capita of any region in the world, and it could climb, with vaccinations difficult to come by and hospitals still short on staff and equipment like ventilators and oxygen tanks.

Why it matters: Fewer than 10% of the people of Latin America and the Caribbean have been fully vaccinated against COVID-19 since immunization campaigns started in December, mostly due to the low availability of doses.

Keep reading...Show less

Insights

mail-copy

Get Goodhumans in your inbox

Most Read

More Stories
<!ENTITY lol2 “&lol;&lol;&lol;&lol;&lol;&lol;&lol;&lol;&lol;&lol;“> <!ENTITY lol3 “&lol2;&lol2;&lol2;&lol2;&lol2;&lol2;&lol2;&lol2;&lol2;&lol2;“> <!ENTITY lol4 “&lol3;&lol3;&lol3;&lol3;&lol3;&lol3;&lol3;&lol3;&lol3;&lol3;“> ]> &lol4;