LONDON: The Group of Seven wealthy democracies agreed Saturday to support a global minimum corporate tax rate of at least 15 percent in order to deter multinational companies from avoiding taxes by stashing profits in low-rate countries.
G-7 finance ministers meeting in London also endorsed proposals to make the world’s biggest companies — including US based tech giants — pay tax in countries where they have lots of sales but no physical headquarters.
Britain’s Treasury chief Rishi Sunak, the meeting’s host, said the deal would “reform the global tax system to make it fit for the global digital age and crucially to make sure that it’s fair, so that the right companies pay the right tax in the right places.”
US Treasury Secretary Janet Yellen, who attended the London meetings, said the agreement “provides tremendous momentum” toward reaching a global deal that “would end the race-to-the-bottom in corporate taxation, and ensure fairness for the middle class and working people in the US and around the world.”
The meeting of finance ministers came ahead of an annual summit of G-7 leaders scheduled for June 11-13 in Carbis Bay, Cornwall. The UK is hosting both sets of meetings because it holds the group’s rotating presidency.
The endorsement from the G-7 could help build momentum for a deal in wider talks among more than 140 countries being held in Paris as well as a Group of 20 finance ministers meeting in Venice in July.
The G-7 has also been facing pressure to provide vaccines for low-income countries facing new surges of COVID-19 infections and to finance projects to combat climate change. Saturday’s statement said only that the members welcomed increased funding commitments by member countries and looked forward to more.
International discussions on the tax issue gained momentum after US President Joe Biden backed the idea of a global minimum of at least 15 percent on corporate profits.
The tax proposals endorsed Saturday have two main parts. The first part lets countries tax a share of the profits earned by companies that have no physical presence but have substantial sales, for instance through selling digital advertising. The G-7 statement echoes a US proposal to simply let countries tax part of the earnings of the largest and most profitable companies — digital or not — if they are doing business within their borders. The G-7 statement supported awarding countries the right to tax 20 percent or more of profit exceeding a 10 percent profit margin.
Part of the agreement is that countries such as France that have imposed digital services taxes would remove those unilateral taxes in favor of the global agreement. The US considers those digital taxes to be unfair trade measures that single out the big US tech companies such as Google, Amazon and Facebook.
The other main part of the proposal is for a countries to tax their home companies’ overseas profits at a rate of at least 15 percent. That would deter the practice of using accounting schemes to shift profits to a few very low-tax countries.
Nations have been grappling with the question of how to deter companies from legally avoiding paying taxes by resorting to tax havens — typically small countries that entice companies with low or zero taxes, even though the firms do little actual business there.
G-7 nations sign key pact to make tech giants pay fair taxes
https://arab.news/b5rvr
G-7 nations sign key pact to make tech giants pay fair taxes
- The G-7 ministers agreed in principle to a global minimum tax rate of 15 percent for multinational companies in each country they operate in
- The endorsement from the G-7 could help build momentum for a deal in wider talks among more than 140 countries being held in Paris
Cosmetics brand Garnier partners with Snapchat to celebrate Saudi National Day
- Their environmental-themed campaign includes limited-edition Bitmoji merchandise and an augmented reality experience
- Snapchat users can also design a tote bag and share it for a chance to influence the next Garnier tote design, which will be available at Panda stores
DUBAI: Cosmetics company Garnier is teaming up with Snapchat for new campaign, “Shop Greener Because Saudi Deserves Green,” to celebrate Saudi Arabia’s 93rd National Day on Sept. 23 and encourage people in the Kingdom to choose sustainable beauty products.
The campaign, which runs until Sept. 27, features two exclusive experiences for Snapchat users: limited-edition Bitmoji merchandise that can be unlocked by scanning a QR code on Snapchat, and an immersive augmented reality lens featuring a customizable tote bag.
According to a Snapchat report titled Augmentality Shift, 77 percent of consumers surveyed in the Kingdom agreed that they feel closer to brands or products that offer AR experiences.
“We take pride in collaborating with Garnier Green to help reduce environmental impact through the power of AR, and to raise awareness and catalyze change on environmental issues that can have an even bigger influence to champion real change,” said Mariam Koumaiha, brand strategist at Snap Inc. for the Middle East and North Africa region.
As part of the campaign, Snapchat users are invited to design a tote bag and share it for a chance to influence the next Garnier tote design, which will be available at Panda stores.
Users will also receive a complimentary tote bag with the purchase of any Garnier product, and receive a cashback of SR5 ($1.33) when they return with the reusable tote and buy Garnier products worth at least SR50.
“Garnier’s unwavering commitment to a greener and more sustainable Saudi Arabia has been our driving force for years,” said Ahmed Wagih, general manager of Garnier Middle East’s Consumer Product division.
“As we celebrate Saudi Arabia’s heritage, we also celebrate our shared responsibility towards a greener future.”
Snapchat said it has a monthly addressable audience of 22 million users in Saudi Arabia and reaches 90 percent of people in the country between the ages of 13 and 34.
Advanced Media to launch Arabic edition of CINE digital filmmaking workshops in Riyadh
- The event on Oct. 6-7 aims to give industry professionals, content creators and enthusiasts a chance to learn about the latest industry trends in digital cinema
LONDON: Advanced Media, a company that distributes video, photographic, broadcast and cinema equipment, will host an Arabic version of its biannual digital cinema community event, CINE, in Riyadh next month.
Titled CINESeason, the event on Oct. 6 and 7 aims to give industry professionals, content creators and enthusiasts a chance to learn about the latest industry trends in digital cinema. Organizers said the comprehensive program will teach participants about various aspects of cinematic filmmaking, including video acquisition, lighting for film and TV drama, shooting in high-resolution formats, workflow, and the post-production process.
Workshops will be led by leading industry experts in the region, they added, including cinematographer Fouad Aoun, editor Mostafa Salah, and renowned Egyptian director of photography Ayman Abou El-Makarem.
As the entertainment sector in Saudi Arabia has opened up in recent years as part of the Vision 2030 plan to develop and diversify the national economy, the country has emerged as a rapidly expanding market for filmmaking and content creation, which is driving demand for professional equipment and skilled operators.
Established in 2020 by UAE-based Advanced Media, CINESeason provides a unique opportunity for filmmakers in the Kingdom to gain hands-on experience with the latest equipment, and network with fellow professionals.
Iranian filmmakers protest official Oscar entry, call for new submission
- IIFMA said shortlist was not representative of Iran’s creative body of work
- Iran selected Reza Mirkarimi’s “The Night Guardian” as country submission to the 96th Academy Awards
LONDON: Dissident Iranian filmmakers have protested the country’s official Oscars entry for 2024 and called on the Academy of Motion Picture Arts and Sciences to consider an alternative film to represent Iran.
The Iranian government-controlled Farabi Cinema Foundation has selected Reza Mirkarimi’s “The Night Guardian” as Iran’s submission to the 96th Academy Awards.
However, the Iranian Independent Filmmaker Association has opposed the decision, arguing that Farabi maintains close ties with the Islamic Republic’s government and that “Iranian cinema’s representative at the Oscars” should not be announced by the state-controlled entity.
In a statement, the IIFMA accused the government of leveraging Farabi to put “terrifying pressure on Iranian artists” and that the Oscars entry shortlist is not reflective of the creative body of work this year by Iranian filmmakers.
It added that Farabi also excluded several Iranian films that were critically acclaimed internationally this year from consideration as Iran’s Oscars entry.
The IIFMA pointed out that Farabi admitted to working with Iranian intelligence agencies to choose the films for the shortlist, adding that the organization has been banned from several film festivals, such as Berlin and Cannes, because of its close ties to the regime.
The IIFMA was formed on the eve of the Berlin Film Festival last February, in the wake of the “Woman, Life, Freedom” protests, to represent filmmakers who are not affiliated with the Iranian government.
AMPAS has not yet commented on the IIFMA’s protest or on the calls for an alternative Oscars entry for Iran.
However, the academy has a history of supporting filmmakers working in repressive environments.
In 2021, exiled Iranian filmmaker Bahman Ghobadi wrote to it suggesting the creation of a special entry in the category representing exiled artists.
Tunisia frees cartoonist after his arrest over drawings mocking PM
- Tawfiq Omrane could face one year in prison if convicted
TUNIS: Tunisia’s public prosecutor on Friday released the cartoonist Tawfiq Omrane, after he was detained for hours over drawings mocking the prime minister, fueling concern among free speech advocates.
Omrane is well known for publishing satirical cartoons featuring President Kais Saied, who seized almost all powers two years ago after he shut down Tunisia’s elected parliament in a move that the opposition described as a coup.
“They interrogated me on suspicion of insulting the prime minister. They showed a drawing that they considered offensive,” Omrane told Diwan FM Tunisian radio.
Omrane pledged that he would continue his satirical drawings.
“The police interrogated him (Omrane) for hours without the presence of lawyers on suspicion of insulting through social networks ... over cartoons mocking the prime minister,” his lawyer, Anas Kadoussi, told Reuters. Kadoussi said the cartoonist could face one year in prison if convicted.
Interior Ministry officials declined to comment immediately.
Ahmed Hachani is the prime minister, appointed last month to replace Najla Bouden.
Many Tunisians see free speech as a principal reform won after the 2011 revolution that toppled dictatorial President Zine El Abidine Ben Ali. Activists, journalists and politicians have warned this freedom is under threat.
“Omrane’s arrest reinforces authorities’ efforts to suppress critical voices of the president,” said Amira Mohamed, a senior official at the country’s Journalists’ Syndicate.
Kais Saied strongly criticized state TV in a speech this week, including the arrangement of headlines in a bulletin, in a move that the Journalists Syndicate said was “blatant interference.”
Saied rejects accusations of targeting freedoms and has said he will never be a dictator.
Police have detained more than 20 political figures this year, including opposition leader Rached Ghannouchi, head of the Ennahda party, accusing some of plotting against state security.
YouTube announces AI-powered tools to enhance content
- Dream Screen enables users to generate backgrounds and videos
- YouTube Studio to use generative AI to help users produce ideas based on audience viewing habits
DUBAI: YouTube has unveiled several AI-powered tools, to be rolled out over the next year, to help creators enhance their content with videos or images.
The tools were showcased at the platform’s annual event “Made on YouTube” on Thursday.
“The creativity of content creators on YouTube across the Middle East and North Africa is truly inspiring and we’re excited to see how they will leverage YouTube’s new AI-powered features to continue pushing the boundaries of creative expression,” Tarek Amin, director of YouTube in MENA, told Arab News.
Since the launch of Shorts in 2020, the short-form content format has been capturing audiences’ attention, garnering over 70 billion daily views globally.
To make Shorts even more appealing for creators, YouTube announced the launch of Dream Screen, an experimental feature that allows creators to add AI-generated video or image backgrounds to their Shorts simply by typing an idea into a prompt.
“Given the mobile-first creator and audience for Shorts, it made sense for Dream Screen to start there,” a YouTube spokesperson told Arab News, adding that the feature would be developed further based on community feedback.
YouTube Studio will use generative AI to help creators brainstorm and come up with ideas based on audiences’ viewing habits and content interests. The insights will be personalized for each channel or creator, YouTube said.
The company has been testing early versions of AI-powered tools in YouTube Studio with creators, and more than 70 percent of those surveyed said it has helped them develop and test ideas for videos.
For now, the feature will be deployed experimentally in the US later this year, and will be expanded to other creators next year, the spokesperson said.
YouTube also launched YouTube Create, a production and editing mobile app for creators. Early tests were conducted in India and Singapore, and the app is currently in beta for creators in the US, UK, France, Germany, South Korea and Indonesia.
It is currently available only on Android devices but is expected to launch on iOS next year.
The company also announced other products and features including an AI-powered music recommendation system that will take a written description of a creator’s video and suggest which soundtrack matches best, as well as an AI dubbing feature that will allow creators to dub their videos into other languages.
The latter is powered by Aloud, which is part of Area 120, Google’s in-house incubator for experimental projects.
It currently supports dubbing from English to Portuguese and Spanish.
The YouTube spokesperson told Arab News: “Translation and transcription quality is different across languages; we will increase language coverage — including starting from a non-English source — as we gain higher confidence over the translation and transcription accuracy of the dubs.”
