Question
Which of the following statements are correct regarding
the Global Minimum Tax deal? I. It aims to ensure that big companies pay a minimum tax rate of 15% and do not avoid taxation II. The rate would apply to all the overseas profits of multinational firms. III. It was held in Jakarta, Indonesia. Select the correct answer using the code given below:Solution
Statement 1 is correct : Global minimum tax deal :It is a global deal to ensure big companies pay a minimum tax rate of 15% and make it harder for them to avoid taxation. Statement 2 is correct : The global minimum tax rate would apply to overseas profits of multinational firms. Statement 2 is not correct : Recently the ‘G20 Ministerial Symposium on Tax and Development’ was held in Bali, Indonesia. Governments could still set whatever local corporate tax rate they want, but if companies pay lower rates in a particular country, their home governments could “top up” their taxes to the 15% minimum, eliminating the advantage of shifting profits. A second track of the overhaul would allow countries where revenues are earned to tax 25% of the largest multinationals’ so-called excess profit – defined as profit in excess of 10% of revenue.
What is the meaning of Buddha?
In which state is the Chandoli National Park situated ?
Which of the following statements are true?
1.Tamil Nadu registered maximum increase in the urbanization ratio during the 1961-2001 period.
<...What does the second R denote in the “RAFTAAR” scheme of the government of India?
Kamlang Wildlife Sanctuary and Tiger Reserve is situated in which state of India?
World Telugu Conference was recently organized in
Who was appointed as the Director General of the Narcotics Control Bureau in September 2024?
Where is the Diesel Locomotive Works located?
 Bajrang Punia is related to which sport?
Which of the following statements is correct
A. Depository is an agent of Depository Participant (DP)
B. Depository Participants (DPs...