Search

G20 Ministers Issue Joint Statement on Digital Economy

Monday, June 10, 2019
18
Separator
31
Separator
34
Separator
5
Separator
Print Print Email Email
News Content Image

Finance Ministers and Central Bank Governors from the Group of 20 economies on Sunday issued a joint statement in the Japanese city of Fukuoka after a two-day meeting on trade and digital economy.

"Global growth appears to be stabilizing and is generally projected to pick up moderately later this year and into 2020. However, growth remains low and risks remain tilted to the downside," the statement said, reported Xinhua news agency.

"Most importantly, trade and geopolitical tensions have intensified. We will continue to address these risks, and stand ready to take further action," the statement said.

The finance chiefs also discussed new tax rules on global IT giants, which make huge profits through cross-border data transfers, as well as the impact of aging populations on the economy.

They agreed to reform global corporate tax rules on internet giants. "We welcome the recent progress on addressing the tax challenges arising from digitalization and endorse the ambitious work program," the statement said.

"We will redouble our efforts for a consensus-based solution with a final report by 2020," it added.

Meanwhile, the Ministers reconfirmed their commitment to refraining from competitive currency devaluations in order to gain an unfair trade advantage.

They also pledged to increase their efforts to combat money laundering and funding of terrorist groups through the use of virtual assets and enhance regulations on cryptocurrency trading.

The agreement by the finance chiefs will be reported to their leaders at the G20 summit scheduled for June 28-29 in Osaka.

Read More News:

Budget May Consider Sops to MSME Export Units

RBI's Revised NPA Circular Credit Positive: Moody's

 

 


Source: IANS
Looking For Loan? Let us Help you !!!
Product
Name
City
Phone
Email
Loan Amount
Annual Income
Preferred banks
Captcha
Type the characters you see in the picture
  Submit
SPOTLIGHT
Brookfield to buy RIL E-W Pipeline
Canadian investor Brookfield has acquired the loss-making East-West Pipeline Ltd from Mukesh Amba..
Bharti Airtel board approves
Telecom major Bharti Airtel on Thursday said its board of directors has approved fund raising ..
90% of developing economies
Ninety per cent of developing economies, including India are falling behind or are at risk of fall..
Banks need to raise own capital
Public Sector Banks (PSBs) may raise capital themselves to meet regulatory and growth ..
Previous
Next