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August 2019
6:24 AM IST
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I find nets claustrophobic, prefer centre wicket for match simulation: Kohli        Rahane's 81 only saving grace in India 203 for 6 on day 1        No more dessert names, Google to officially call new OS 'Android 10'        Sensex, Nifty rebound on hopes of FPI tax rollback        Despite tensions, Pak stands ready to open Kartarpur Corridor: Qureshi        Two Govt hospitals in Pak deny specialised ambulance facility to Sharif        UN, France raise concern over Amazon wildfires 'crisis'        INX Media: SC grants interim protection to Chidambaram in ED case; no relief in CBI matter        Always said demonising Modi wrong: Singhvi        Alert in Tamil Nadu after intel of Lashkar terrorists' intrusion        FM proposes measures to enhance fund flows for infra, housing projs        FATF Asia-Pacific Group puts Pakistan in terror 'blacklist': Officials        Vivek Oberoi to star in film on Balakot air strikes        It's better to get hit early and hard: Kohli on bouncers        Messi 'made me better player', says Ronaldo        Nirav Modi to appear via videolink for remand hearing in UK        Rupee slips 17 paise to 71.72 vs USD in early trade        US seeking balancing act in South Asia over Kashmir: Report        Pro-growth RBI minutes to cap yields; revives expectations for further policy easing        N Korea dismisses nuclear talks if US 'hostile military moves' continue        
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Business News
G20 countries eye tax policy for internet giants: Nikkei
 
Tokyo: G20 countries are planning a new tax policy for digital giants like Google, based on the business a company does in a country, not where it is headquartered, the Nikkei business daily said Thursday.

The basic policy is likely to be signed by finance ministers from the Group of 20 countries when they meet next month in the Japanese city of Fukuoka ahead of the main G20 meeting in Osaka, the Nikkei said.

The policy, targeting firms like Google, Apple, Facebook and Amazon, would "allocate revenue to countries that provide large user bases for the world's digital corporate giants," the daily said, citing unnamed sources.

The countries will seek to reach a final agreement in 2020, but how the policy will work remains to be finalised.

One possibility would be to distribute collected tax revenues to countries based on the number of users a given company has in each country.

That could mean that Facebook, which has centralised its profits and tax payments in Ireland to take advantage of low rates, would see its tax payments redistributed to areas where more of its users live.

But details of how the tax will be collected and distributed and which companies will be affected remain to be finalised, with the Organisation for Economic Cooperation and Development (OECD) expected to help iron out the rules.

The issue of how to tax top digital companies has become increasingly fraught, with several European nations going it alone, drawing the ire of the United States.

The Paris-based OECD is trying to forge a new global agreement that would prevent the firms from simply declaring their income in low-tax jurisdictions, depriving other countries of billions in revenue.

In April, French lawmakers passed the first reading of a bill to impose taxes on digital advertising, the sale of personal data and other revenue for any technology company that earns more than 750 million euros ( 840 million) worldwide each year.

A bid to agree a law at the European Union level was scuttled by low-tax countries like Ireland, which have wooed big tech firms.

Austria has proposed similar domestic legislation


No more dessert names, Google to officially call new OS 'Android 10'
Sensex, Nifty rebound on hopes of FPI tax rollback
Nirav Modi to appear via videolink for remand hearing in UK
Rupee slips 17 paise to 71.72 vs USD in early trade
SBI plans to establish nearly 10 lakh YONO Cash Points
Sensex tumbles 268 pts; Tata Motors tanks 9 pc
Huawei dismisses new suspension of 'unjust' US ban
Rupee hits fresh 6-mth low of 71.71; dives 28 paise
China lost 20 lakhs jobs in short period of time: Trump
Rupee plunges to over 6-mth low of 71.43; skids 29 paise
Ready to help J&K hold investment summit in Mumbai: Fadnavis
Credit demand subdued, economy needs stimulus: SBI Chairman
Trump says Apple will spend 'vast sums' in US
Coffee Day Enterprises says debt to fall to Rs 1,000 cr post sale of Bengaluru tech park
Sensex, Nifty edge higher on stimulus talks; post weekly loss
Over 3,000 temporary jobs cut due to slowdown: Maruti Suzuki
Airtel shareholders approve waiver in recovery of excess pay to Mittal
Rupee slips 12 paise to 70.93 vs USD in early trade
Gaana looking to break-even in next 4-5 years
Rupee suffers biggest slump in 6 yrs; closes at 4-mth low of 70.73 on yuan shock
KERALA NEWS
Malayalam actor, film crew stranded in Himachal village
 Thiruvananthapuram: A 30-member film crew from Kerala, including award-winning actress Manju Warrier  
Ex-Deputy Commandant of AR camp held in connection with constable's death
"More flights to Kerala from Gulf countries during Onam"
Flood in Kerala: CM conducts aerial survey
INTERNATIONAL NEWS
Despite tensions, Pak stands ready to open Kartarpur Corridor: Qureshi
 Islamabad: Pakistan on Friday said that despite tensions with India, it stands ready to open the Kar
Two Govt hospitals in Pak deny specialised ambulance facility to Sharif
UN, France raise concern over Amazon wildfires 'crisis'
US seeking balancing act in South Asia over Kashmir: Report
NATIONAL NEWS
INX Media: SC grants interim protection to Chidambaram in ED case; no relief in CBI matter
 New Delhi: Congress leader and former union finance minister P Chidambaram was on Friday granted pro
Always said demonising Modi wrong: Singhvi
Alert in Tamil Nadu after intel of Lashkar terrorists' intrusion
FATF Asia-Pacific Group puts Pakistan in terror 'blacklist': Officials
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