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Ferdinand Marcos Jr. during a campaign rally in Metro Manila, Philippines.

REUTERS/Lisa Marie David

Hard Numbers: Marcos’ tax bill, Russian cash in Swiss banks, Cubans sentenced, Mali vs French media

3.9 billion: Philippine presidential frontrunner Ferdinand Marcos Jr. owes a whopping $3.9 billion in unpaid taxes from the estate of his dad, the late dictator. Marcos, of course, says this is fake news, but his rivals hope it'll hurt his chances in the May 9 election.

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Representation of Bitcoin cryptocurrency and Indian flag.

Jakub Porzycki/NurPhoto

Hard Numbers: Indian crypto tax, Peronistas vs IMF, Guinea-Bissau coup attempt, Austrian vax mandate

30: India plans to introduce a 30% tax on capital gains from trading cryptocurrencies and non-fungible tokens. Last November, the government threatened to ban all crypto transactions after the central bank warned they pose a risk to the country's financial stability.

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Podcast: A former US diplomat rates Biden’s first presidential trip abroad

Listen: Former US Ambassador to NATO Ivo Daalder weighs in on US President Joe Biden's first trip abroad, which included a very important first stop at the G7 summit in the United Kingdom, and the way forward for the US and its closest friends. Did he convince allies that "America is back" and ready to resume its leadership role in global affairs? And if so, does it even matter if Americans still need to be convinced that US engagement in the world is vital? Daalder speaks with Ian Bremmer on the GZERO World podcast.

Subscribe to the GZERO World Podcast on Apple Podcasts, Spotify, Stitcher, or your preferred podcast platform to receive new episodes as soon as they're published.

Demonstrators take part in a protest against the tax reform of President Ivan Duque's government in Bogota.

REUTERS/Luisa Gonzalez

Don’t tax the dead: Colombia’s crisis

There's never a great time to impose higher taxes on funeral services — but doing it in the middle of a raging pandemic is an especially bad move. Yet that was one of a number of measures that the Colombian government proposed last week in a controversial new tax bill that has provoked the country's largest and most violent protests in decades.

In the days since, the finance minister has resigned, the tax reform has been pulled, and President Iván Duque has called for fresh dialogue with activists, union leaders, and opposition politicians.

But demonstrations, vandalism, and deadly clashes with police have only intensified. Two dozen people are dead, 40 are missing, and the UN has criticized Colombian police for their heavy-handed response.

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Will Tech Giants Be Taxed For Worldwide Profits With A Global Tax Rate? | Cyber In :60 | GZERO Media

Will tech giants be taxed for worldwide profits with a global tax rate?

Get insights on the latest news about emerging trends in cyberspace from Marietje Schaake, International Policy Director at Stanford University's Cyber Policy Center and former European Parliamentarian:

Today, we talk about the "T word", as I often refer to: taxation. But that taboo is finally broken in the United States.

How would a global minimum corporate tax rate, like the one Janet Yellen has called for, affect Big Tech?

Now, ideally, it would ensure a level playing field for all companies, and European leaders embrace the US change of course, but they did add that there should be ways to tax tech giants for their global profits. It's a demand that is widely shared in Europe. So the hope is that that can be arranged between all OECD members.

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Gabriella Turrisi

The Graphic Truth: What companies actually pay in taxes

On top of the global debate about enacting a minimum global tax for multinational corporations, there's another growing movement in a host of countries for all firms to pay their fair share in taxes, whether they do business abroad or not. Many US corporations are notorious for getting away with paying little to no federal taxes by taking advantage of multiple loopholes in the tax code — which is true for a lot of them. However, as a whole the average percentage of income US corporations do pay taxes on — their effective tax rate — is in reality not much lower than the legal national rate due to additional taxes levied by some US states and cities — the same as in many other developed economies. We compare the official and the effective corporate tax rates in some nations around the world.

Australia rushes through tax cuts in Covid-19 economic stimulus

October 09, 2020 2:42 PM

SYDNEY (REUTERS) - Australia's Parliament approved A$17.8 billion (S$17.34 billion) in personal tax cuts on Friday (Oct 9), quickly pushing through measures announced earlier this week to support the country's coronavirus-ravaged economy.

Indonesia adds Twitter, Zoom to tech companies that must pay 10% VAT

September 09, 2020 6:48 AM

JAKARTA (REUTERS) - Indonesia on Tuesday (Sept 8) added 12 more companies, including social media firm Twitter and video-conferencing site Zoom, to a list of internet-based businesses that must pay a 10 per cent value-added tax on sales.

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