G20 = The meeting of finance ministers and central bank governors of 20 major countries will open in Italy on the night of the 9th of Japan time.
It is expected to encourage negotiations to proceed, aiming for a final agreement by October on new international taxation rules to put an end to the competition to reduce corporate taxes.
The G20 Finance Ministers and Central Bank Governors' Meeting will begin on the night of the 9th of Japan time in Venice, Italy, and will be held for two days.
This is the first face-to-face meeting of the G20 in one year and five months since February last year, and will be attended by Deputy Prime Minister and Finance Minister Aso and Governor Kuroda of the Bank of Japan from Japan.
The main agenda of the conference is on the new rules of international taxation.
On the 1st of this month, a group of 139 countries and regions centered on the member countries of the OECD (Organization for Economic Co-operation and Development) held a negotiation meeting, and 131 of these countries and regions have been competing for corporate tax reduction so far. To put an end to this, we have generally agreed to set a minimum tax rate of 15% or higher and introduce new taxation rules for global corporations.
However, since there are still issues to be considered such as specific tax rates, the G20 countries are proceeding with negotiations aiming for a final agreement by October by all 139 countries and regions, including those that have not participated in the agreement. It seems to encourage them to do so.
In addition to this, the conference is expected to discuss the current state of the world economy at risk, such as the spread of highly infectious mutant viruses, efforts for recovery, and support for developing countries.