Local government fiscal revenue in China grows steadily
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Chinese local gov t fiscal revenue maintains steady growth
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Fairer G20 corporate tax plan OK d By Chen Jia | China Daily | Updated: 2021-07-12 07:08 Share CLOSE Participants attend the G20 high-level tax symposium during the G20 finance ministers and central bank governors meeting in Venice, Italy, on July 9, 2021. [Photo/Agencies]
Finance ministers and central bank governors from G20 economies reached a historic agreement on a new global corporate tax reform plan over the weekend, endorsing a minimum levy on multinational corporations and a reallocation of profits between countries.
It marked a big step forward in the global tax reform process after years of discussions. After the G20 members finished meeting in Venice, Italy, on Saturday, they issued a communique calling the new framework a more stable and fairer international tax architecture . However, the minimum corporate tax rate was not fixed.