Business Standard Global tax talks race to resolve hurdles as time runs out: Report
The 140 countries attempting to conclude years of negotiations to overhaul global tax rules for an increasingly digitized economy are racing to resolve key details against a ticking clock. With just over a week until an Oct. 8 meeting of all the governments involved, negotiators are still wrestling over parameters of setting a global minimum corporate tax and sharing the spoils from levies on tech giants like Facebook Inc. and Alphabet Inc.’s Google, according to people familiar with the matter. They are also trying to work out how the global deal will coordinate countries on halting new unilateral digital taxes and unwinding existing measures -- a hot-button issue for governments seeking to protect revenues, and for the U.S., which sees such levies as discriminatory against its firms.