Related Research Articles
A Tobin tax was originally defined as a tax on all spot conversions of one currency into another. It was suggested by James Tobin, an economist who won the Nobel Memorial Prize in Economic Sciences. Tobin's tax was originally intended to penalize short-term financial round-trip excursions into another currency. By the late 1990s, the term Tobin tax was being applied to all forms of short term transaction taxation, whether across currencies or not. The concept of the Tobin tax is being picked up by various tax proposals currently being discussed, amongst them the European Union Financial Transaction Tax as well as the Robin Hood tax.
Luiz Inácio Lula da Silva, also known as Lula da Silva or simply Lula, is a Brazilian politician who is the 39th and current president of Brazil since 2023. A member of the Workers' Party, Lula was also the 35th president from 2003 to 2011. He also holds the presidency of the G20 since 2023.
The Group of Seven (G7) is an intergovernmental political and economic forum consisting of Canada, France, Germany, Italy, Japan, the United Kingdom and the United States; additionally, the European Union (EU) is a "non-enumerated member". It is organized around shared values of pluralism, liberal democracy, and representative government. G7 members are major IMF advanced economies.
The G20 or Group of 20 is an intergovernmental forum comprising 19 sovereign countries, the European Union (EU), and the African Union (AU). It works to address major issues related to the global economy, such as international financial stability, climate change mitigation and sustainable development.
Brazil–France relations are the bilateral relations between the Federative Republic of Brazil and the French Republic.
Digital goods are software programs, music, videos or other electronic files that users download exclusively from the Internet. Some digital goods are free, others are available for a fee. The taxation of digital goods and/or services, sometimes referred to as digital tax and/or a digital services tax, is gaining popularity across the globe.
The Robin Hood tax is a package of financial transaction taxes (FTT) proposed by a campaigning group of civil society non-governmental organizations (NGOs). Campaigners have suggested the tax could be implemented globally, regionally, or unilaterally by individual nations.
A bank tax, or a bank levy, is a tax on banks which was discussed in the context of the financial crisis of 2007–08. The bank tax is levied on the capital at risk of financial institutions, excluding federally insured deposits, with the aim of discouraging banks from taking unnecessary risks. The bank tax is levied on a limited number of sophisticated taxpayers and is not especially difficult to understand. It can be used as a counterbalance to the various ways in which banks are currently subsidized by the tax system, such as the ability to subtract bad loan reserves, delay tax on interest received abroad, and buy other banks and use their losses to offset future income. In other words, the bank tax is a small reimbursement of taxpayer funds used to bail out major banks after the 2008 financial crisis, and it is carefully structured to target only certain institutions that are considered "too big to fail."
This article is a list of all notable reaction to James Tobin's 1972 proposal of what is now known as the Tobin tax.
A world taxation system or global tax is a hypothetical system for the collection of taxes by a central international revenue service. The idea has garnered currency as a means of eliminating tax avoidance and tax competition; it has also aroused the ire of nationalists as an infringement upon national sovereignty.
Young European Leadership (YEL) is an international non-profit and nonpartisan organization composed of and founded by young Europeans. Its aim is to empower youths through high-level leadership opportunities to create change in their communities. Among its activities, YEL organizes the European Union's delegations to the Y7 and Y20 Summits, as well as youth-centered delegations to the annual COP conferences, the European Health Parliament, and other events, including the Paris Peace Forum.
Base erosion and profit shifting (BEPS) refers to corporate tax planning strategies used by multinationals to "shift" profits from higher-tax jurisdictions to lower-tax jurisdictions or no-tax locations where there is little or no economic activity, thus "eroding" the "tax-base" of the higher-tax jurisdictions using deductible payments such as interest or royalties. For the government, the tax base is a company's income or profit. Tax is levied as a percentage on this income/profit. When that income / profit is transferred to a tax haven, the tax base is eroded and the company does not pay taxes to the country that is generating the income. As a result, tax revenues are reduced and the country is disadvantaged. The Organisation for Economic Co-operation and Development (OECD) define BEPS strategies as "exploiting gaps and mismatches in tax rules". While some of the tactics are illegal, the majority are not. Because businesses that operate across borders can utilize BEPS to obtain a competitive edge over domestic businesses, it affects the righteousness and integrity of tax systems. Furthermore, it lessens deliberate compliance, when taxpayers notice multinationals legally avoiding corporate income taxes. Because developing nations rely more heavily on corporate income tax, they are disproportionately affected by BEPS.
The OECD G20 Base Erosion and Profit Shifting Project is an OECD/G20 project to set up an international framework to combat tax avoidance by multinational enterprises ("MNEs") using base erosion and profit shifting tools. The project, led by the OECD's Committee on Fiscal Affairs, began in 2013 with OECD and G20 countries, in a context of financial crisis and tax affairs. Currently, after the BEPS report has been delivered in 2015, the project is now in its implementation phase, 116 countries are involved including a majority of developing countries. During two years, the package was developed by participating members on an equal footing, as well as widespread consultations with jurisdictions and stakeholders, including business, academics and civil society. And since 2016, the OECD/G20 Inclusive Framework on BEPS provides for its 140 members a platform to work on an equal footing to tackle BEPS, including through peer review of the BEPS minimum standards, and monitoring of implementation of the BEPS package as a whole.
The 45th G7 summit was held on 24–26 August 2019, in Biarritz, France. In March 2014, the G7 declared that a meaningful discussion was currently not possible with Russia in the context of the G8. Since then, meetings have continued within the G7 process. However, according to a senior Trump administration official, US President Donald Trump and French President Emmanuel Macron had agreed that Russia should be invited to the next G7 Summit to be held in 2020.
The 2021 G20 Rome summit was the sixteenth meeting of the Group of Twenty (G20), which was held in Rome, the capital city of Italy, on 30–31 October 2021.
The global minimum corporate tax rate, or simply the global minimum tax, is a minimum rate of tax on corporate income internationally agreed upon and accepted by individual jurisdictions in the OECD/G20 Inclusive Framework. Each country would be eligible for a share of revenue generated by the tax. The aim is to reduce tax competition between countries and discourage multinational corporations (MNC) from profit shifting that avoids taxes.
The second presidency of Luiz Inácio Lula da Silva started on 1 January 2023, when he was inaugurated as the 39th President of Brazil. Lula was elected for a third term as President of Brazil on 30 October 2022, by obtaining 50.9% of the valid votes in the 2022 Brazilian general election, defeating his far-right predecessor Jair Bolsonaro. Lula is the first Brazilian president to ever be elected more than twice as well as being the oldest person to ever be elected president in Brazil.
The 2024 G20 Rio de Janeiro summit is the upcoming nineteenth meeting of Group of Twenty (G20), a summit scheduled to take place at the Museum of Modern Art in Rio de Janeiro on 18–19 November 2024, the first G20 summit to be held in Brazil.
The EU Tax Observatory is an independent research laboratory dedicated to studying tax evasion and avoidance in the European Union, opened June 2021. Its offices are hosted at the Paris School of Economics, and staff is also hosted at the University of Copenhagen. In its first year of operation its budget was 1.1 million EUR, funded primarily by the EU's Directorate-General for Taxation and Customs Union.
References
- ↑ Zucman, Gabriel (29 February 2024). "Speech at the G20 finance ministers meeting in São Paulo" (PDF). EU Tax Observatory.
- ↑ "Macron joins Brazil's Lula to tax billionaires — but is it all it's made out to be?". POLITICO. 2024-06-23. Retrieved 2024-06-23.
 | This economic policy related article is a stub. You can help Wikipedia by expanding it. |