﻿<!--<!DOCTYPE nitf SYSTEM "nitf-3-4.dtd">-->
<nitf>
  <head>
    <title id="Title">&amp; çâÌæÚUæð´ ·¤è ¥ôÚU Îð¹Ùæ ÁæÚUè ÚU¹ð´ ¥ÍæüÌ ¥ÂÙð ÜÿØ ÂÚU ŠØæÙ ÚU¹ð´Ð ãæÚU Ù ×æÙð´, €UØô´ç·¤ ·¤æ× ·¤ÚUÙð âð ¥æÂ·¤ô ©gðàØ ·¤è Âýæç# ãôÌè ãñ ¥õÚU ÁèßÙ ·¤æ ¹æÜèÂÙ ÎêÚU ãôÌæ ãñÐ ÖÜð ãè ÁèßÙ ×ð´ ç·¤ÌÙè Öè ·¤çÆÙæ§ü €UØô´ Ù ¥æ°, çÁ™ææâæ ¥õÚU ©ˆâæã ÕÙæ° ÚU¹ð´Ð ŠØæÙ ÚU¹ð´, ÜÿØ ã×ðàææ ¥æÂ·Ô¤ Âæâ ãôÌð ãñ´ çÁ‹ãð´ ÂæÙð ·Ô¤ çÜ° ÂýØæâ ¥æÂ ·¤Öè Öè àæéM¤ ·¤ÚU â·¤Ìð ãñ´Ð</title>
    <docdata management-doc-idref="">
      <date.issue id="CreationDate" norm="" />
      <du-key id="rev-ver" generation="1" version="Default" />
      <du-key id="Parent-Version" version="" />
      <identified-content>
        <classifier id="newspro-nitf" value="r2" />
        <classifier id="Newspro-App" value="Epaper" />
        <classifier id="Content-Type" value="Story" />
        <classifier id="storyID" value="" />
        <classifier id="CmsConID" value="" />
        <classifier id="Desk" value="" />
        <classifier id="Source" value="" />
        <classifier id="Edition" value="" />
        <classifier id="Category" value="-1" />
        <classifier id="UserName" value="" />
        <classifier id="PublicationDate" value="20220103" />
        <classifier id="PublicationName" value="Hindustan" />
        <classifier id="IsPublished" value="Y" />
        <classifier id="IsPlaced" value="Y" />
        <classifier id="IsCompleated" value="N" />
        <classifier id="IsProofed" value="N" />
        <classifier id="User" value="" />
        <classifier id="Headline-Count" value="" />
        <classifier id="Slug-Count" value="0" />
        <classifier id="Photo-Count" value="0" />
        <classifier id="Caption-Count" value="0" />
        <classifier id="Word-Count" value="0" />
        <classifier id="Character-Count" value="0" />
        <classifier id="Location" value="" />
        <classifier id="TemplateType" value="1" />
        <classifier id="StoryType" value="Story" />
        <classifier id="Author" value="" />
        <classifier id="UOM" value="mm" />
        <classifier id="IndexPage" value="" />
        <classifier id="box-geometry" value="-7,40,950,284" />
        <classifier id="Epaper-Build" value="Build-No: 2.1.0.9, Dated: 04/12/2021" />
        <classifier id="Application" value="QuarkXpress 8" />
        <classifier id="MachineName" value="TV0254" />
        <classifier id="ProcessingDateTime" value="Mon 03 Jan 2022 07:00:24" />
      </identified-content>
      <urgency id="home-page" ed-urg="0" />
      <urgency id="priority" ed-urg="0" />
      <doc-scope id="scope" value="0" />
    </docdata>
    <pubdata type="print" name="Hindustan" date.publication="20220103T000000+5.30" edition.name="RPAjmCity" edition.area="RPAjmCity" position.section="03012022-RPAjmCity-01-PAGE-03012022_RPAjmCity_01~WS4~" position.sequence="01" ex-ref="03012022-RPAjmCity-01-PAGE-03012022_RPAjmCity_01~WS4~" SectionName="" />
  </head>
  <body>
    <body.head>
      <hedline>
        <hl1 id="kicker" class="1" style="Shoulder" MainHead="false">
          <lang class="3" style="kicker" font="Patrika18" size="12">
</lang>
        </hl1>
        <hl1 id="Headline" class="1" style="Headline" MainHead="true">
          <lang class="3" style="Headline" font="Patrika18" fontStyle="Bold" size="15">Multinationals face heftier tax hit in biggest overhaul for decades
</lang>
        </hl1>
        <hl1 id="Subhead" class="1" style="Subhead" MainHead="true">
          <lang class="3" style="Subhead" font="Patrika18" fontStyle="Bold" size="15">
</lang>
        </hl1>
        <hl1 id="Byline" class="1" style="Byline" MainHead="true">
          <lang class="3" style="Byline" font="Patrika18" fontStyle="Bold" size="15">Reuters, Paris
</lang>
        </hl1>
      </hedline>
      <summary></summary>
      <quotes>
        <quote></quote>
      </quotes>
    </body.head>
    <body.content id="Bodytext">
      <block>
        <media id="1" media-type="image">
          <media-reference id="tn" source-credit="" data-location="1" ImgOrderNum="" source="03012022-RPAjmCity-01-PAGE-03012022_RPAjmCity_01~WS4~_SubGroupImage_720446704_tn.JPG" Units="pixels" width="50" height="50"></media-reference>
          <media-caption id="Caption1" font="">
            <hl2></hl2>
          </media-caption>
          <media-reference id="tn" source-credit="" data-location="2" ImgOrderNum="" source="03012022-RPAjmCity-01-PAGE-03012022_RPAjmCity_01~WS4~_SubGroupImage_720325568_tn.JPG" Units="pixels" width="50" height="50"></media-reference>
          <media-caption id="Caption1" font="">
            <hl2></hl2>
          </media-caption>
          <media-reference id="tn" source-credit="" data-location="3" ImgOrderNum="" source="03012022-RPAjmCity-01-PAGE-03012022_RPAjmCity_01~WS4~_SubGroupImage_720436736_tn.JPG" Units="pixels" width="50" height="50"></media-reference>
          <media-caption id="Caption1" font="">
            <hl2></hl2>
          </media-caption>
          <media-reference id="tn" source-credit="" data-location="4" ImgOrderNum="" source="03012022-RPAjmCity-01-PAGE-03012022_RPAjmCity_01~WS4~_SubGroupImage_715957792_tn.JPG" Units="pixels" width="50" height="50"></media-reference>
          <media-caption id="Caption1" font="">
            <hl2></hl2>
          </media-caption>
          <media-reference id="tn" source-credit="" data-location="5" ImgOrderNum="" source="03P1 StephenHawkings_tn.JPG" Units="pixels" width="50" height="50"></media-reference>
          <media-caption id="Caption1" font="">
            <hl2></hl2>
          </media-caption>
        </media>
      </block>
      <p style=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">Governments will get more power to tax big multinationals like Google, Apple and Facebook doing business in their countries under a proposed overhaul of decades-old rules.
</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">Big internet firms have pushed tax rules to the limit as they can book profit and park assets like trademarks and patents in low tax countries like Ireland wherever their customers are.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">The drive for a global rule book has received new urgency as countries unilaterally adopt plans for a tax on digital companies over frustration with current rules.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">Ulis year more than 130 countries and territories agreed that a rewriting of tax rules largely going back to the 1920s was overdue and tasked the Paris-based Organisation for Economic Cooperation and Development (OECD) to come up with proposals.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">"The current system is under stress and will not survive if we don't remove the tensions," OECD head of tax policy Pascal Saint-Amans told journalists.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">The OECD expects the first sign of whether there is broad political support behind their proposals next week when finance ministers from the Group of 20 economic powers discuss them at a meeting in Washington.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">The overhaul would have an impact of a few percentage points of corporate income tax in many</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">countries with no big losers apart from big international investment hubs, Saint-Amans said.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">While that means countries like Ireland or offshore tax havens could suffer, countries with big consumer markets like the United States or France would benefit from the shake-up.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">France adopted its own national tax on digital companies this year, sparking US threats of tariff on French wine and adding to global trade tensions.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">Meanwhile, companies are facing increased uncertainty about their tax bills as countries challenge arrangements to pay tax in countries like Ireland rather then</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">where their markets are. Apple is locked in an EU tax dispute over profits booked in Ireland which could cost the iPhone maker $14 billion. Meanwhile, Google agreed last month to pay more than $1 billion to settle a tax case in France.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">Amazon, which the European Union has told to pay about 250 million euros in back taxes to Luxembourg, said the OECD proposals were an "important step forward".</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">The OECD proposals set a scope for the companies that would be covered by the new rules, define how much business they must do in a country to be taxable there and determine how much profit can be</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">taxed there. The aim is to give the government where the user or client of a company's product is located the right to tax a bigger share of the profit earned by a foreign company there.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">Companies affected would be big multinational firms operating across borders with the OECD suggesting they should have revenue of over 750 million euros ($821 million).</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">They would also have to have a "sustained and significant" interaction with customers in a country's market, regardless of whether they have a physical presence there or not.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">Not only would big internet companies be covered, but also big consumer firms that sell retail products in a market through a distribution network, which they may or may not own.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">Companies meeting those conditions would then be liable for taxes in a given country, according to a formula based on set percentages of profitability that remain to be negotiated.</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">A French Finance Ministry official said that the Washington meeting should give "the needed political steer in order to achieve an agreement on international taxation in 2020".</lang>
      </p>
      <p class=".Bodylaser">
        <lang class="3" style=".Bodylaser" font="Patrika15 Ultra" fontStyle="Bold" size="130">After Washington, broader negotiations will get under way with the aim to put an outline agreement to the 134 countries that have signed up for the reform in January.</lang>
      </p>
    </body.content>
  </body>
</nitf>