Former Canadian Prime Minister Paul Martin said that China should play an important role in strengthening multilateral cooperation in the G20.
G20 engagement group representatives from Business (B20), Civil Society (C20), Labour (L20), Think Tanks (T20), Women (W20), and Youth (Y20) have contributed to the 18th issue of the G20 Monitor. The representatives address how their groups have contributed to the G20 process in 2015, their priorities for the G20, and what would constitute success in terms of possible outcomes from the Antalya Summit.
Multinationals have generated big-time revenues with its subsidiaries spread all over the world, which means huge profits and that`s taxable income. In recent years, a number of conglomerates - Amazon, Apple, Google and Starbucks - have engaged in so-called profit-shifting (profit allocation) via transfer pricing methods to pay minuscule taxes.
The G20 summit that Turkey will host in November will discuss the crisis of migration amid high influx of Syrian refugees fleeing their war-torn country, a Turkish Foreign Ministry official said on Tuesday.
Turkish Foreign Ministry deputy undersecretary Ayse Sinirlioglu (1st R) speaks during a press conference in the Turkish capital of Ankara, Oct. 27, 2015. The G20 summit that Turkey will host in November will discuss the crisis of migration amid high influx of Syrian refugees fleeing their war-torn country, a Turkish Foreign Ministry official said on Tuesday.
The first ‘Think 20’ (T20) regional meeting titled "Turkey, India and the G20" organized by a think tank, Gateway House, in collaboration with the Economic Policy Research Foundation of Turkey (TEPAV), opened a new chapter in India`s participation in the G20.
A women group under the auspices of G20 pledged here on Friday more efforts to close the gender gap for sustained strong economic growth.
As the world economy is facing varied challenges including slowing growth, differentiated policies, transition and increasing uncertainties, new strategies are needed to cope with the changing economic situation and boost global economic development.
Taking up the G20 presidency in 2016, China will advance the implementation of the newly approved Base Erosion and Profit Shifting (BEPS) Action plan, said Chinese Finance Minister Lou Jiwei during the on-going World Bank Group and International Monetary Fund Annual Meetings in Lima on Friday.
A key government draft proposal that will seek to tackle multinational corporations` tax-avoidance will draw from a latest international tax rule, and is expected to be rolled out by the year-end, a top tax official said.
G20 ministers on Friday unanimously agreed to support a plan that tries to stop multinational companies from avoiding taxes by shifting profits to destinations with lower corporate tax requirements.
Since the early 1990s, the need for effective multicountry collaboration has soared, but at the same time multilateral talks have inevitably failed; deadlines have been missed; financial commitments and promises have not been honored; execution has stalled; and international collective action has fallen far short of what was offered and, more importantly, needed.
The G20 gathering wrapped up in Istanbul on Tuesday. China`s commerce minister urged the 20 member group to play a bigger role in rejuvenating the global economy.
G20 trade ministers on Tuesday agreed to pursue deeper and wider reforms to ensure trade growth as it grew less than the global economy for the first time in the last four decades.
Turkish President Recep Tayyip Erdogan on Friday called for more investment by G20 countries in infrastructure so as to reach their future targets.
G20 energy and natural resources ministers on Friday adopted an action plan seeking to boost access to energy for Sub-Saharan Africa, a region facing an acute power shortage.
The Organization for Economic Cooperation and Development (OECD) on Monday urged G20 countries to take more dynamic and constructive measures to boost investment for more global economic growth.
G20 Trade Ministers Meeting is held in Istanbul, Turkey, Oct. 6, 2015. G20 trade ministers on Tuesday agreed to pursue deeper and wider trade reforms to ensure trade growth as it grew less than the global economy for the first time in the last four decades.
The G-20`s finance ministers and central bankers discussed a variety of issues concerning the global economy during their two-day meeting that closed this weekend in Ankara, Turkey.
Due to the decline in the growth of emerging economies in recent years and poor performance of their internal structural reforms, as well as the deterioration of market environment in developed countries, purely relying on fiscal and monetary stimulus could not restore sustainable and rapid growth, and various measures and reforms taken by G20 members are difficult to ensure that the goal of 2% more growth to overall GDP could be achieved within five years.