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Digital Tax Talks In G20 Spotlight As US Tariff Threat Looms
Negotiations on a global tax deal have extended beyond the June 30 deadline, with countries now looking to the G20 finance leaders meeting for progress. "The stakes in the negotiations are high," reports Reuters. "A failure to reach agreement on final terms could prompt several countries to reinstat...
Standstill agreements under which Washington has suspended threatened trade retaliation against seven countries -- Austria, Britain, France, India, Italy, Spain and Turkey -- expired on June 30, but the U.S. has not taken steps to impose tariffs. A European Union document prepared for the G20 meeting lists finalizing the international tax deal as a "top priority." It said the G20 should urge countries and jurisdictions participating in the tax deal "to finalize discussions on all aspects of Pillar 1, with a view to signing the Multilateral Convention (MLC) by summer end and ratifying it as soon as possible."
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