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G20 leaders will back the global minimum tax deal and want it in place by 2023

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G20 leaders will back the global minimum tax deal and want it in place by 2023

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Reuters, citing a draft

The global minimum tax has been in the works for a while, so it comes as no surprise. I could see that it would affect capital flows over time, but it’s hard to see it in any way negotiable, especially with much of the implementation (and loopholes) still unknown.

Other headlines of the draft:

  • Leaders will ensure a ‘stable and uninterrupted power supply’
  • End international public finance for non-stop new build overseas coal power generation by the end of 2021
  • They will do their best to stop building a new generation of coal power endlessly ‘in the 2030s’
  • Commit to phase out inefficient fossil fuels ‘over the medium term’
  • Recognize the ‘key importance of achieving net zero greenhouse gas emissions by mid-century’

The irony of Biden and others pushing for more oil and gas pumping at the same time shouldn’t go unnoticed by anyone.

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cnbctv18-forexlive-benzinga -Sp

G20 leaders will back the global minimum tax deal and want it in place by 2023

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