Start learning 50% faster. Sign in now
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.
Which among the following Articles of the Indian Constitution deal with 'Right to Freedom of Religion'?
Under the leadership of which of the following revolutionaries was Chittagong Armoury Raid conducted?
Where is the origin of Western Cyclonic Fever?
Who among the following Vijayanagara kings defeated the sultan of Bijapur in 1520?
Who is the father of modern agriculture in India?
In which year did India first participate in the Olympic games?
Coromandel Coast gets most of its rain during the winter season because:
Which award did Payal Kapadia win at the Cannes Film Festival for 'All We Imagine as Light'?
Where is the headquarters of Confederation of Indian Industry (CII) is located?
The Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) is related to which sector?