oh, no, no, no. i the, the closing loopholes, bolstering date the budget. finance ministers of the world's biggest economies are meeting in italy to discuss a global corporate tax rate that many countries have already signed off. on the show, pfizer and biotech, a 3rd shot of their corporate vaccine could help with work better. news comes as infection. raids are on the rise again. and 40 goes for them. industry is upset

because of what it feels are confusing messages. the taurus from the german government over on berlin. welcome to the program. global tax justice has a number, at least according to political leaders. that number being 15 percent. that's what the o. e c d countries agreed on a week ago and now g 20 finance ministers in venice want to push ahead with the global tax and for the goal is more tax justice. and in addition to the minimum tax rate of 15 percent, it also includes ensuring that international corporations no longer just pay taxes at the headquarters, but also where they generate their sales, global tax reform. it's mainly about tech companies which often make money all around, but are able to pay taxes only where the rates are low. what would countries collect in additional taxes of only the 5 largest tech companies? google, the parent company, alphabet amazon, apple. facebook and microsoft were text even lee. well,

the development agent organization actually has done the calculations. you know, they are g 20 countries would have collected almost $32000000000.00 more last year. the only c d countries just under 28000000000 and in the u. an additional $8000000000.00 would have been ended with the tax collectors. let's talk more about this with pascall son a mom. he's the director of tax policy at the organization for economic cooperation and development. welcome to the program pascal. on the face of going to the g 20 have already back the framework for a global tax reform. what do you expect the outcome to be of this g 20 finance ministers meeting today. further all the g. 20 countries have joined the government together with $100.00 than one countries 90 percent of

the world, the company. so i think there's something like a celebration. it's been yes that would praying to introduce tex regulation of globalization and there were getting that with something very significant. so celebration and also pulling pulling petra to make sure that we have quick implementation for the agreement to become a reality as quickly as possible. we have to keep in mind that many industrialized countries like united states like germany, they have a corporate tax rate above 15 percent. what's the use of agreeing on a common lo, arrayed, if those that are still below that won't join like ireland, like a stone. yeah, like hungry. yeah, that's a good question. and, and you know, text is always a bit tricky. so let me explain kim for you. you should be taxed that company on the rate sheets from the large gum countries between 20 and 30 percent. right. but the prophy made by their companies abroad are not tax. they are not taxed for the

german companies in germany because normally they should be taxed in the other countries. what the german business does do that business except up with globalization and nor regulations of the past 30th. the foreign profit have gone and tax. and today the tax that's rate, which is $23.00, maybe 56 percent. and what we're doing here is put the safety net and sample the perfect made the road. they should be taxed that at least 15 percent, which is pretty high rate compared to what we have today, which is close to 0. so that's the difference. this deal is set to come into effect and 2023. will it? and what will happen with the countries that i mentioned like ireland like hungry, like a stone? yeah. up until then all you're going to be able to make them join the steel. that's a very good question. so the goal is to fast then to move funds, because the us congress is supposed to pass the tax reform by year end. and we hope

that the world will be able to implement all that by 23. so the rec receipts time schedule, but the political support. now do we need all the countries to join the group entry to, to be properly implemented? not really the way it's been design is to make sure that the company's of germany or the us. so the large countries, when the operating the market will be taxed at the minimum and you don't need the intermediary countries, the investment has the tax statements to be part of your group. which will be that said, there is one exception for europe. because europe, the new t, all the $27.00 countries to act together. and that's where you need. i learned that you need hungary understood of the 3 countries with chapter 10, but they have not joined yet. but they've indicated that part of the process and, and they are engaged in the stations and hopefully the us passed it's reform. that's how you mentioned the united states fair before the global tax rate is set

to come into effect, the e. u once announce its own digital tax later this month, which doesn't go down well in washington. does this have the potential to derail the whole process? it's good, but we are considering that the commission will either postpone its proposal for deal to be find a lighting october. you know, we have a frame agreement which is quite firm that we need to find like the biofuel versus hopefully the commission could postpone cooper or come up with a proposal which will not be rejected by the members. because the proposal is not compatible with the agreement. it would that don't, right, well, so i think there is a risk, but it's a small read and when we are confident that the commission we do the right thing. pascal, santa mom or cd tax policy director. thank you for your time. thank you. thank you . germany's biotech and pharma jain, pfizer says say they will seek authorization for a 3rd dose of their coven,

1900 vaccine. the booster job would help increase the shots. efficacy dealt the very end has led to devastating outbreaks in africa and asia and cases arising again in europe and the united states. pfizer and biotech are also developing a delta specific vaccine against the strain trials are expected to start next month . let's get the market view on this with our financial correspondent, conrad, those and in frankfort. conrad is this good or bad news for the shares of biotech and the shares of pfizer. you know, the m r n a maker m r n a vaccine maker by take proved to be really the one that has the most promising story to tell. not only is this m r n a technology for vaccines the most effective one. also, biotech and pfizer are very well ahead when it comes to going for the variance and

following the pandemic if you like. and last but not least, it's the m r n a vaccines, the one for biotech, the one from madonna, which has also been recommended to boost other vaccines like the one from astrazeneca. this is not something that everyone on the market sat on the agenda, and this is giving, you know, the business perspective of these companies, an extra boost infections around the world are rising and in many places, the next birds are warning of a 4th wave. another rave here in the fall and in europe, how markets feeling about that. you know, markets have been pretty willing to look at the positive aspects of everything in terms of the pandemic of the restart that the economy would experience will experience is experienced at the you know, the perspective that the economy really gets a boost and of course it has to be said, the recovery has not proven to be as boldly as an object equally as,

as the announcements on the market has sounded. it is true on the other hand that the market still remains relatively optimistically, relatively high level on while you ations is indicating this kind of business. perfect. thank you. and i'll quickly look at some of the other business stories making headlines around the world. the f t says to members of congress in the united states are calling for an investigation of chinese ride hailing at d. d. s. they had misled investors ahead of us last week and shares flit after beijing blocked it's app as part of a crackdown they denies knowing this would happen. the international monetary fund has increased landing capacity by $650000000000.00. that's the funds reserved for countries in need of support to recover from the current of ours. and then the i m

f managing director crystelina or give calls the program a shot in the arm for the region. we call you a german government flip flop has dealt a severe blow to port against all important tourism industry. german tourist canceled their vacations there after berlin issued a travel warning only to revoke it a week later. the garver. it's always been the heart of portugal, beach tourism even today, but not like it used to be. it's mainly the portuguese themselves, a few spaniards and some french tourists. in the many hotels along the coast lived the beach life has turned into an eerie calm. who think when do you think 55 to 60 percent of the guests who normally spend their vacations here are foreigners and new if they come mainly from germany, the u. k. and other countries. but they're not here now please let us know. don't cough? christina morero's sees the consequences when she takes

a walk in the private roacha, empty and abandon shops. the tour guide tries to make ends meet as best she can. so i told him to answer those 2020 everything canceled this year so far everything's been canceled. no, i've had some work, but no tours, i would do this kind of your morero's survives by giving courses for new guides. many people in the garvey don't have any income as the charity carriage house experiences deal with its food bank in port to mild mann watson because we're taking care of 480 families at the moment. that's 112070 people. during the 1st year of the pandemic, the number of people in need skyrocketed. this spring, the number went down as soon as the 1st hotels reopened and sought staff. but that buoyancy only lasted for weeks until the pandemic struck 15 percent of portugal. g

d. p came from tourism that makes people all the more frustrated with the travel restrictions. we are seeing these ever changing rules and for answer printer, for the employees is very difficult to handle these new situations every week. 56000 germans planned vacations in garvey for this july. that was before the warning. now no one knows how many of those holiday makers will even show up. and finally in the market, it's all about timing and the auction house. sotheby's nose one or 2 things about that right in time for the olympics, is offering a pair of running shoes that nike co founder bill bauer, man, personally made for the canadian track and field olympian harry jerome, in the $900.00 sixty's because are expected to fetch $1000000.00 also for sale,

a pair of convers fastbreak sneakers worn by none other than michael jordan during the $984.00 pic trials or even signed by mr. jordan and they probably won't come either. that's our show. thanks for watching. ever saw the news the fight against the corona virus pandemic. how has the rate of infection in developing what goes to the latest research information and contact the corona virus? 19 special next on dw. hello

guys. this is a 77 percent. the platform is due to defeat issues and share ideas. you know, on this channel, we are not afraid to have some delicate tuffy. young people do have the pollution, the future. 77 percent. now, every weekend on the w ah, the quarter of the world's corona virus deaths have been in latin america. the 3rd of new infections happening in the region, a region where just 3 percent of the population is fully vaccinated. so what's gone wrong? in some countries, people blame the government to making the wrong moves,

or making them too late. poverty to is playing its part, making social distancing impossible. health care systems are overwhelmed, and economy is shrinking. so what hope is there for latin america? on robots in berlin, welcome to this curve in 19 special latin america thing and alarming rides. in corona virus infections, the region has the highest cove at $900.00 death rate in the world. brazil has suffered the most fatalities of more than half a 1000000 deaths as followed by mexico. wherever 230000 people have died and peru has nearly 200000 dead with a population of 32000000. the w. johan ramirez reports from peru where a new variant called lambda has left the public health system there. really.

in peru, people are placing their hopes for carving the pandemic on vaccination. yet progress is slow on the some 15 percent offer organs have received at least one those one of their worst rates in latin america. but for house work or something ground, it's better than nothing. is the most of the reason we feel optimistic because people react well to vaccination in parole. in fact, the younger people would like everything to go faster so they can get to vaccinate it from a notice. the commerce has reopened. after a 9 month quarantine tricked safety measures remain in place. authorities cough mandated using job phase mass to enters taurus and shopping centers. phase shells are widely used and hand washing facilities had been installed in the streets, but it has not been enough through the highest per capita death rates in the world

. the government's response to the crisis has been widely criticized. is the one that gave those this arrived too late for the management of the pandemic is a complete disgrace, especially for the previous president. one now at least the fight over the last 2 peaks of infection seen through have coincided with deep political crisis. that in both cases led to massive demonstrations. the 1st one was in november when political instability left 2 or 3 precedents in one week. the 2nd wave of fraud, this is happening right now. the reason a controversial presidential election, one of the candidates cried fraud. why the other claims there is a non to still has victory. supporters from both sides have taken to the streets, according to some experts, these demonstrations could cause a 4th arise in the faction car. but at this point,

the contract cannot afford new lock downs. the great this effort, math to be done to vaccinate the population and to start negotiating from now on new generation vaccines for the new bargains that may appear. this is the most effective measure, and the week has been blowing doing sold on average, peru administers about 350000 vaccines every week. a low figure for a country of more than $33000000.00 authorities have promised that the process will accelerate government forecast estimates that the eligible population will be immunized by the end of 2021 for latin american country with by far the highest number of corona virus cases and death is brazil, we've been speaking to francisco and i still bustos, who is a senior research and epidemiology and bias statistics at the as well do cruise

foundation in rio. he says the brazilian government was too slow to accept the severity of cove at 19 the main advisors of the government forecasted very, very much. this is amy with less than 1000 cave death. now we have more than 500000 and much probably very soon we have something like 600000 there and also the final, the cleaning go beacher as a mild variety of food when actually cookies 19 is a very serious disease. we may need this grant symptoms and some very

severe case. it's a very different disease. indeed, i just want to talk a little bit more about latin america if we can, the pan american health organization to talk about that being a glaring back seen gap that was down to i think that the latin america should be viewed now as kind of patchwork because we have very different profile in terms of axis in x. so use of vaccines. so for instance, there is a good performance by sheeley which is close to the developing countries from western europe, america, israel, and the place and brazil. procure then put cheese, the vaccines with significant delay. so now we are still be

below 14 percent of coverage in terms of the those is enough to protect people. so there is a big gap in brazil to be drafted as soon as possible. francisco industrial bustos from brazil as well. do cruise foundation where the health system in cuba, metallic, the region is close to collapse due to the rapid spread of the delta variant health work it say that running out of medicine, oxygen tank and respirators. the government has allocated 36 military doctors and 350 medical students humor times it to relieve some of the pressure that may well cuba is expected to approve one of its vaccines against covey. 19 in the coming days, the regulatory go ahead for the short code up dollar could help speed vaccinations across latin america where case numbers remain high. the countries are struggling

to get doses for a moment of celebration and havana. last month, the cuban scientist announced the results of their coven, 1900 vaccine trial. the shots, 92 percent reported efficacy rate puts it in the same week as those developed by pharma giants like the by on tech pfizer alliance or remarkable achievement for a tiny island of 11000000 people. havana has 5 coven 19 vaccine candidates and development. its been vaccinating its own citizen since may and last month started shipping shots to venezuela. a point of national pride. no southerner, corano, we cubans help others. things that other countries in the world don't do. countries that have more possibilities than we do. and we help those in need without any problems going on in cuba says 30 countries have expressed interest in its vaccines . but public health officials and even politicians are urging caution. cuba state

biotech firm hasn't published trial data yet or applied for approval from the world health organization or the csr. faxing is approved by the international scientific community. we will welcome it, but it must be approved. we venezuelan should not be guinea pigs going yes. but with no end in sight for latin america's vaccine shortage. summer being forced to choose between an unrecognised shot or none at all. now is the box of the right around where we put one of your questions thrust times correspondent, very quickly. oh, in some places, cases rise, but deaths remain low. why does sous covey to seem to act so differently in different countries? pretty much all experts agree that panoramic statistics are influenced by a range of factors. so let's look at some of the ones that get mentioned a lot one that's definitely playing

a role. nearly everywhere is the under reporting of cases, mortality, or both. some countries are better at tracking over 1000 than others, but, but in plenty of places, systems for accounting and tracking disease and death are just inadequate to say the least and, and don't forget that political choices can influence how pandemic numbers are reported. countries where the pandemic is raging, for instance, can basically write off tourism, which, which might wreak havoc what their economies. and that's just one of many possible reasons why politicians might want to play down infection rates. and speaking of politics, how effectively governments have responded to the spread of october 19 has also certainly played a role in whether numbers surge or stagnate. then there's demographics

as a disease that's really deadly in the elderly. it seems logical, covert 19, would read more havoc in aging societies than it does in younger ones, whether a health care system, cope's, or collapse, is under the pressure when infection rates spike. that is also definitely had an influence on, on mortality in many places and, and then there's the simple stuff, like just how a country decides to even define a covert infection or a covert death. there are plenty more factors that experts think are playing roles in the apparently different impact the virus is happening in different places. but the final one most degree on at this point is vaccine inequity, which is a simple equation compared to too many others in highly vaccinated societies,

death and suffering is tailing off. whereas in many countries with low vaccination rates, the virus might now be striking later. but it's striking very hard me and that's all from this session and the code 819 special until next time. ah, the the, me the, the news,

the news the, the to the point, strong opinion, clear positions, international perspective. when it sometimes seems that we are indeed losing the battle against climate change, she does not mean a cruel future for the next generation. certainly the possibility. so why are we so unwilling to change the way we live our lives? find out on to the point to that point. on

d. w. in good space everybody. nobody was always at the wrong time. pain is a warning signal from our body can have many causes. what can we do to prevent it from becoming i was in the company and we become finally timeframe in good shape. minutes on the w. o. the news. how does the virus spread? why do we panic by? and when will all of this? just 3 of the topics that we've covered and our weekly radio broadcast. if you

would like any more information on the kroner virus or any other science topics, you should really check out our podcast. you can get it wherever you get your podcast. you can also find us at ww dot com, forward slash science. interesting global economy. our portfolio, d w business beyond. here's a closer look at the project. our mission. to analyze the fight for market dominance versus west head with dw business beyond on you to me.

ah the who's ah, this is the w news slide from the homes for haiti's presidential assess and police say these men part of the hist for who killed jovan our ways is, is searching for more mess and demos. also coming up us president bite and sets of august 31 deadline for the company. the longest war saying it's time for us to.