Latin American stocks and currencies mostly fell on Monday as the trade dispute between the United States and other leading economies worsened, but central bank intervention kept the Brazilian real steady.
The International Monetary Fund and the World Bank are joining forces with other international organizations to cooperate on tax issues and develop new tools and standards to halt tax base erosion and evasion.
United States President Obama hailed new Treasury Department rules cracking down on corporate tax inversions Tuesday, calling the practice of merging with a foreign company to escape U.S. taxes one of the most insidious tax loopholes out there.
The US Treasury Department said it will postpone enforcement of a new law that cracks down on offshore tax avoidance by Americans by six months until July 1, 2014, giving foreign banks more time to determine how to comply.
US President Barack Obama formally notified Congress that he plans a 1.2 trillion dollars increase in the US debt limit, setting the stage for Republicans to level election-year charges that deficits are out of control.