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Date: 20/09/2014 12:39 clock
growth that is a big topic at the finance ministers’ meeting in Cairns, Australia. Closing tax loopholes is another. But another question plays a role: Can Russia compete further
Although the Ukraine crisis should not be an issue at the G20 Finance Ministers Meeting, the resulting conflict with Russia floats but over all in Cairns, Australia – in terms of the G20 summit in November in Brisbane. Should Russia, Vladimir Putin to be invited? Furthermore, there are different opinions.
Australian Finance Minister Joe Hockey, hosted the conference in Cairns, was initially against Putin’s invitation. Now he has changed her mind up. Putin is loaded and is to come: “We consulted with a whole host countries,” says Hockney. “Meanwhile, the conviction is returned, that of course we expect Russia as a participant of the G20 summit, Russia is finally G20 member..”
“No safe haven for tax evaders “
tax loopholes and growth, that’s what this weekend in Cairns, Australia, in sight of the Great Barrier Reef. The OECD has presented a 15-point list of recommendations, with the avoidance of international companies should be prevented. The Secretary-General of the OECD, Angel Gurria, explains how this will go:. “It’s not about equalize the tax rates Each country is free to choose its tax rates,” he stresses. “But it comes to measures that prevent tax evaders can hide that they look for a safe haven in which they have to pay taxes. It’s also about companies that are attracted by some countries, and in which it is clear . they pursue any genuine economic activity in this country, “
The OECD and the G20 it comes to revenue, to justice and to trust, says Angel Gurria:” The OECD-G20 project is a joint effort to combat aggressive practices of companies in which profits are artificially shifted to low-tax countries. This approach of companies undermines the tax system, destroyed the organizational capability of the government to prevent a necessary growth and destroyed the trust of the citizens. “
How much growth and how?
The dispute is over the amount of the necessary growth and about who should initiate it. Two percentage points of additional growth in the coming five years, the G20 finance ministers ordained in February in Sydney. The economy should be stimulated, an increase of two trillion dollars is expected jobs, especially for young people should be created
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In February, German Finance Minister Wolfgang Schaeuble was skeptical. Growth can not be decreed, so Schäuble then, and nothing has changed. Germany relies on private investment and is not willing to increase government spending. For Schäuble balanced budget is the next year out of the question, he must defend against criticism that attitude in Cairns. . Higher government spending, the demand the G20 members from Germany, which also calls for the International Monetary Fund
A superlative is already created: The package against tax loopholes was the biggest step towards the modernization of the tax system for 100 years, the OECD thrilled.
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