TV News LIES

Sunday, Dec 04th

Last update09:05:48 AM GMT

You are here News Economy US blocks crackdown on tax avoidance by net firms like Google and Amazon

US blocks crackdown on tax avoidance by net firms like Google and Amazon

E-mail Print PDF

Google chairmanFrance has failed to secure backing for tough new international tax rules specifically targeting digital companies, such as Google and Amazon, after opposition from the US forced the watering down of proposals that will be presented at this week's G20 summit.

Senior officials in Washington have made it known they will not stand for rule changes that narrowly target the activities of some of the nation's fastest growing multinationals, according to sources with knowledge of the situation.

The Organisation for Economic Co-operation and Development (OECD) has been told to draw up a much-anticipated action plan for tax reform at the gathering of G20 finance ministers this Friday, but the US and French governments have been at loggerheads over how far the proposals should go.

While the Americans concede that the rules need to be updated, they are understood to be pushing for moderate change. They are believed to want tweaks to the existing wording of international tax treaties rather than the creation of wholly new passages dedicated to spelling out how the digital economy should be taxed.

TVNL Comment:  Make no mistake, here.  The Obama administration is a corporatist entity that protects the wealthiest among us who evade paying taxes.  What a betrayal of the public trust this has turned out to be.

More...


Most Recent Related Stories...


Pandemic relief fraud report says online financial company CEOs, family got rich

Paycheck protection program A congressional subcommittee issued its final report Thursday about financial fraud supercharged by online lending during the pandemic,...

Georgia Supreme Court Reinstates Abortion Ban

Georgia Court reinstates abortionThe Georgia Supreme Court Wednesday reinstated the state’s ban on abortions after roughly six weeks of...

Ford recalls 634,000 vehicles worldwide over fire risks

Ford recallFord Motor Co (F.N) is recalling 634,000 sport utility vehicles (SUVs) worldwide over fire risks from...

Crypto exchange FTX files for bankruptcy amid $8 billion shortfall

FTX files for bankruptsy FTX Trading on Friday filed for Chapter 11 bankruptcy, capping a sudden and startling downfall for...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!