PORTUGAL: Portugal adopts Pillar Two rules
Portugal has now implemented the EU Minimum Tax Directive, introducing into domestic legislation a global minimum tax of 15% for large-scale multinational and domestic groups.The legislation includes
The United States is delaying the disbursement of $2.6 billion in climate finance to South Africa, raising concerns the funds could be withheld entirely, Bloomberg News reported on Thursday, citing people familiar with the situation.
Earlier this month, US representatives prevented the World Bank-linked Climate Investment Funds (CIF) from approving a $500 million disbursement to South Africa, the report added.
The funding was expected to unlock an additional $2.1 billion from multilateral development banks and other financial sources and a fresh attempt to approve the disbursement may be made at CIF meetings in June, the report said.
CIF is one of the world’s largest multilateral funds aimed at scaling climate solutions in developing countries.
If confirmed, the move would be among several actions by former President Donald Trump’s administration to scale back participation in multilateral climate initiatives.
In March, the U.S. withdrew from the board of the United Nations’ climate damage fund, which supports vulnerable nations facing climate-related disasters.
The US Treasury and the CIF did not immediately respond to Reuters’ requests for comment.
Portugal has now implemented the EU Minimum Tax Directive, introducing into domestic legislation a global minimum tax of 15% for large-scale multinational and domestic groups.The legislation includes
The South Korean carmaker is facing charges similar to those slapped on Volkswagen for missclassifying imports of parts for its Carnival minivan. Kia has been accused by Indian authorities of evading
The 2024 United Nations Climate Change Conference (COP29) left a bitter taste in the mouths of developing country negotiators. Many felt betrayed by what Indian negotiator Chandni Raina called an ‘optical
Press Release from Guernsey Finance, Monday 13 May, 2024. Guernsey Finance has opened an office in central London to facilitate the work it does promoting and connecting the island’s finance services