The G20 finance ministers and central bank governors will meet in Cape Town for discussions focused on enhancing global economic growth and addressing international taxation, particularly for IT companies. This meeting follows the Trump administration’s new tariff measures and highlights Japan’s push for fair competition rules amid concerns about US participation.
Finance ministers and central bank governors from the G20 nations will convene for a two-day meeting starting Wednesday in Cape Town, South Africa. The meeting marks a significant moment as it follows the initiation of policies from the Trump administration, which has implemented new tariff measures and suggested a potential withdrawal from international tax agreements.
Discussions at the meeting will center on addressing the uncertain global economic landscape and establishing new guidelines for international taxation. This includes proposals for adequately taxing multinational IT companies that provide services across various jurisdictions.
During their last meeting in October, G20 finance leaders expressed optimism about the global economy’s prospects, indicating a soft landing. Japan intends to advocate for new international taxation rules to ensure fair competition among businesses, aiming to spearhead this critical conversation.
However, the absence of US Secretary of the Treasury Scott Bessent at the meeting raises concerns about the depth of the discussions and whether substantive agreements can be reached among the participants.
The G20 meeting in South Africa seeks to address pressing global economic issues and establish fair international tax rules, especially for tech giants. The outcome will hinge on collaboration among finance leaders, despite the notable absence of the US Treasury. Japan’s leadership on taxation may influence future discussions as economies grapple with shifting policies and trade dynamics.
Original Source: www3.nhk.or.jp
