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Last day of the G20 summit deals with crucial issues for the planet

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Last day of the G20 summit deals with crucial issues for the planet

Rome, Oct 31 (Prensa Latina) The G20 summit entered its second and last day, focusing on crucial issues for the planet such as climate change, the environment and sustainable development.
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Among said issues is the design of a more stable and fair international tax architecture agreed at the meeting of heads of Finance and central bank governors on July 23rd, which provides for the application of at least 15 percent taxes on profits of large transnational companies.

The heads of State or Government endorsed the proposal, backed by 136 countries, according to the final count of accessions announced by the Organization for Economic Cooperation and Development on last October 8th.

The objective of the measure is to increase the sources of income for the territories in which these consortia operate and at the same time prevent the flight of capital to tax havens or places with low taxes.

Nonetheless, doubts persist about the possibility of overcoming some differences on confronting climate change at this summit, beyond the commitment to keep the increase in global temperature below 1.5 degrees Celsius as established by the Paris Agreement.

Today’s program also includes a parallel forum on the role of the private sector in the fight against climate change and the closing session of the event, at 3:40 p.m. local time, with the approval of the final declaration.

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