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Biden offers to drop corporate tax hike proposal -source

U.S. President Joe Biden offered to scrap his proposed corporate tax hike during negotiations with Republicans on an infrastructure package, a source familiar with the matter said on Thursday, in what would be a major concession by the Democratic president as he works to.

Australia to introduce legislation to amend offshore banking rules

By Reuters Staff 1 Min Read SYDNEY, March 12 (Reuters) - Australia will introduce legislation in parliament to amend its offshore banking unit (OBU) rules to try to avoid the country being designated a harmful tax regime by the European Union and OECD, Treasurer Josh Frydenberg said on Friday. The OBU provides a more attractive tax rate for offshore banking activity conducted by Australian registered banks. (Reporting by Renju Jose; Editing by Jacqueline Wong)

Germany agrees tax breaks worth 11 bln euros - Handelsblatt

By Reuters Staff 1 Min Read BERLIN, Jan 20 (Reuters) - Germany’s federal and state governments have agreed tax breaks worth some 11 billion euros, Handelsblatt business daily reported on Wednesday, citing a Finance Ministry document. The federal and state governments agreed on Tuesday, when they extended lockdown for most shops and schools until Feb. 14, that they needed to stimulate the economy further. The tax relief will benefit everyone who works from home, Handelsblatt said, adding that between 2022 and 2026, the Finance Ministry expects relief totalling 11.7 billion euros as a result of the measures. (Writing by Paul Carrel Editing by Riham Alkousaa)

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