Countries should consider introducing a temporary additional "solidarity tax" for companies that have been able to make money from the pandemic, the International Monetary Fund (IMF) wrote in its Fiscal Monitor. The IMF believes that a temporary excess profits tax could both replace regular corporate taxes and act as a supplement to them. Such a tax would ensure that businesses that thrived...

The global economy will grow at a slightly higher rate than previously expected over the next two years, the International Monetary Fund (IMF) believes. Its global growth forecast for 2021 was raised from 5.5% to 6%, for 2022 from 4.2% to 4.4%. Among developed countries, the US economy will be the fastest to recover, while among developing countries China and India will show the best performance....

New US Treasury Secretary Janet Yellen will call on all countries around the world to set a minimum corporate tax rate in her first policy speech, Axios learned. US government fears local businesses will move to other jurisdictions because of Biden's plans to raise corporate tax from 21% to 28%. US Treasury Secretary Janet Yellen on Tuesday will call on countries around the world to introduce a...

The world's economies will be recovering quickly but unevenly in 2021, Bloomberg warns. Because of slow vaccination rates and tight monetary policy, some developing countries will lag behind the post-pandemic world leaders, the US and China. The global economy will recover from the pandemic crisis at a record pace, with Bloomberg Economics predicting growth of 6.9% in 2021 - the highest in more...

The rise in bitcoin's exchange price has benefited China and its digital yuan project, which is being actively pursued and promoted by the country's central bank, the People's Bank of China (PBOC), according to CNBC. This view is shared by monetary regulators in several countries. Work on the implementation of the digital yuan began in 2014. The PBOC stresses that it is a digital version of fiat...

The damage to its administration from the blockage of the Suez Canal was about $1 billion, said Osama Rabie, the head of the administration. According to him, the investigation into the accident will take at least a week. The container ship Ever Given will not leave the canal until the investigation is completed. "We will keep calculations, take into account all the funds we have used since the...

Countries participating in the Brussels 5 video conference on support for Syria will send about €5.3bn in grants and €5.9bn in loans to the country, European Commissioner for Crisis Management Janez Lenarčič has said. The UN had earlier asked international donors to provide $5.8m to Syrian refugees and $4.2m to those left behind in Syria. "International donors have allocated €5.3 billion in aid...

The United States is not ready to lift customs duties on goods imported from China, which were increased during Donald Trump's presidency, in the near future. However, lifting the high tariffs could be part of new trade talks with Beijing. The United States will not lift customs tariffs on imports from China overnight, but will be open to talks with Beijing. This was announced in a first...

Japan's economy will lose 150 billion yen (about $1.37 billion) because of the decision to hold the Olympics this summer without foreign fans, local media reported citing experts from Japanese think tanks. Economists with the Dai-ichi Life Research Institute cited by the Nikkei business daily believe that the economic effect expected by Tokyo from holding the Olympics will be reduced by 150...