D-8 Organization for Economic Cooperation

Bermuda Begins Second Public Consultation on Corporate Income Tax Proposal

Retrieved on:

Friday, October 6, 2023

Professional Services, Public Policy, Government, Business, Other Policy Issues, Finance, Accounting, Investment, Director of National Parks, CIT, Economic Cooperation Organization, Economic development, Organization, D-8 Organization for Economic Cooperation, Growth, Life, Insurance, Renewable energy

Today the Government of Bermuda announced that it will issue a second public consultation paper regarding the proposed introduction of a corporate income tax (“CIT”) that would be applicable to Bermuda businesses that fall within the scope of the Organization for Economic Cooperation and Development’s (“OECD”) global minimum tax rules (“GloBE Rules”).

Key Points:

Today the Government of Bermuda announced that it will issue a second public consultation paper regarding the proposed introduction of a corporate income tax (“CIT”) that would be applicable to Bermuda businesses that fall within the scope of the Organization for Economic Cooperation and Development’s (“OECD”) global minimum tax rules (“GloBE Rules”).
Taking into account feedback from the first public consultation period which ended on September 8th, 2023, several important factors have influenced the design of the proposed CIT regime.
Bermuda intends that its CIT is recognised as a Covered Tax under GloBE rules.
The CIT would become effective in 2025, providing MNEs the necessary time to make adjustments to their systems as they transition to paying a corporate income tax in Bermuda.

Bermuda Considers Introducing a Corporate Income Tax

Retrieved on:

Tuesday, August 8, 2023

Today, the Government of Bermuda announced that it will issue a public consultation paper as part of its considerations on introducing a corporate income tax to apply to Bermuda businesses that are part of Multinational Enterprise Groups (MNEs) with annual revenue of €750M or more.

Key Points:

Today, the Government of Bermuda announced that it will issue a public consultation paper as part of its considerations on introducing a corporate income tax to apply to Bermuda businesses that are part of Multinational Enterprise Groups (MNEs) with annual revenue of €750M or more.
Bermuda is considering a corporate income tax that would be taken into account in calculating the effective tax rate of Bermuda businesses under the Organization for Economic Cooperation and Development’s (OECD) global minimum tax rules.
The taxes paid under the proposed Bermuda corporate income tax regime would be those which would be payable to other jurisdictions under the global minimum tax framework.
Any new corporate income tax adopted would also include certain tax credits which support Bermuda’s economic goals and maintains Bermuda’s global attractiveness.

NeuroStar Achieves Milestone Regulatory Clearance in South Korea

Retrieved on:

Monday, July 17, 2023

This marks the first international market where NeuroStar has obtained marketing authorization for the expanded indication and cutting-edge technologies.

Key Points:

This marks the first international market where NeuroStar has obtained marketing authorization for the expanded indication and cutting-edge technologies.
The NeuroStar 3.7 platform standardizes the NeuroStar hardware globally and includes advancements designed to streamline a clinician’s workflow, such as a touchscreen display with a biometric fingerprint reader.
South Korea was also reported to have the greatest suicide rate among nations of the Organization of Economic Cooperation and Development (OECD)2.
As a market leader in TMS within the South Korean market, NeuroStar aims to fill this unmet need and has partnered with distributor DK Healthcare to expand access to NeuroStar TMS.

Readout of SBA Administrator Guzman’s Visit to Paris

Retrieved on:

Friday, June 30, 2023

PARIS, June 30, 2023 (GLOBE NEWSWIRE) -- On Tuesday, June 27-28, U.S. Small Business Administrator Isabella Casillas Guzman led the U.S. delegation to the Organization for Economic Cooperation and Development’s (OECD) Small and Medium-Sized Enterprise (SMEs) and Entrepreneurship Ministerial Meeting in Paris, France.

Key Points:

PARIS, June 30, 2023 (GLOBE NEWSWIRE) -- On Tuesday, June 27-28, U.S. Small Business Administrator Isabella Casillas Guzman led the U.S. delegation to the Organization for Economic Cooperation and Development’s (OECD) Small and Medium-Sized Enterprise (SMEs) and Entrepreneurship Ministerial Meeting in Paris, France.
During her visit, Administrator Guzman participated in a Plenary Session on fostering the contribution of SMEs and entrepreneurs to green and digital transitions.
Additionally, Administrator Guzman moderated a breakout session on rebooting start-up and scale-up policies to create new opportunities for small business owners.
For follow-up interview requests for Administrator Guzman, please contact Mila Myles at [email protected].

CLEANR Teams with GKD on Development of a Disruptive Filtration System that Removes Microplastics from Washing-Machine Wastewater to Protect the Environment

Retrieved on:

Wednesday, April 26, 2023

CLEVELAND, April 26, 2023 /PRNewswire/ -- GKD Group, a world-leading mesh filtration manufacturer and CLEANR, a developer of advanced microplastics filtering technologies, have teamed to help washing machine manufacturers meet new and emerging regulations aimed at eliminating plastic microfiber pollution in global waterways, ecosystems and food chains.

Key Points:

CLEANR's unique patent-pending technology can be applied as an external filter or readily integrated into modern washing machine designs as a pre-installed solution.
CLEANR also offers a consumer-friendly dry disposal mechanism that prevents hands-on contact with microfiber waste and prevents it from being washed down the drain.
Over a half-million tons of plastic microfibers spill into the oceans every year in the form of washing machine wastewater.
This accounts for 35% of all microplastics in the environment, making clothing and textiles the world's number-one source of microplastic pollution.

Clearmind Medicine Submits IND Application to FDA for its Proprietary CMND-100 Treating Alcohol Use Disorder

Retrieved on:

Thursday, March 16, 2023

Tel Aviv, Israel / Vancouver, Canada, March 16, 2023 (GLOBE NEWSWIRE) -- Clearmind Medicine Inc. (NASDAQ: CMND) (CSE: CMND), (FSE: CWY) (“Clearmind”), a biotech company focused on the discovery and development of novel psychedelic-derived therapeutics to solve major under-treated health problems, today announced it has submitted an Investigational New Drug ("IND") application with the U.S. Food and Drug Administration ("FDA"), requesting approval to initiate its first-in-human Phase I/IIa clinical trial with CMND-100 in patients suffering from alcohol use disorder ("AUD"). Pending regulatory approval, the company plans to initiate the CMND-100 trial in Q2 2023.

Key Points:

MEAI was found to interact with the serotonergic receptors 5-HT1a, 5-HT2a and 5-HT2b.
The serotonergic system is considered to play a key role in the regulation of alcohol intake, reward, preference, and dependence.
The IND submission to FDA, to initiate our clinical trial, is a milestone showing the huge commitment of the Clearmind team to finding a solution to this abusive disorder.
The economic loss results from missing labor days, resulting diseases, and other consequences of excessive alcohol use.

World Leaders Announce US$826 Million in Pledges to Education Cannot Wait at High-Level Financing Conference

Retrieved on:

Friday, February 17, 2023

GENEVA, Feb. 17, 2023 /PRNewswire/ -- World leaders announced US$826 million to Education Cannot Wait (ECW) and the global challenge to support the education of 222 million crisis-affected girls and boys.

Key Points:

GENEVA, Feb. 17, 2023 /PRNewswire/ -- World leaders announced US$826 million to Education Cannot Wait (ECW) and the global challenge to support the education of 222 million crisis-affected girls and boys.
These ground-breaking announcements were made at the ECW High-Level Financing Conference on 16-17 February in Geneva, Switzerland.
Worldwide, 222 million children impacted by conflict, climate change, forced displacement and other protracted crises urgently need quality education.
Switzerland is co-convening the High-Level Financing Conference with ECW and the Governments of Colombia, Germany, Niger, Norway and South Sudan.

Education Cannot Wait High-Level Financing Conference Offers New Hope for World's Most Vulnerable Children

Retrieved on:

Wednesday, January 25, 2023

GENEVA, Jan. 25, 2023 /PRNewswire/ -- Leaders across the globe will come together at the Education Cannot Wait High-Level Financing Conference on 16-17 February in Geneva, Switzerland to make good on commitments to ensure every child, everywhere, is offered a quality education.

Key Points:

Geneva event brings leaders together to fund education for children caught in emergencies and protracted crises.
GENEVA, Jan. 25, 2023 /PRNewswire/ -- Leaders across the globe will come together at the Education Cannot Wait High-Level Financing Conference on 16-17 February in Geneva, Switzerland to make good on commitments to ensure every child, everywhere, is offered a quality education.
We can leave none behind," said Yasmine Sherif, Director of Education Cannot Wait (ECW), the United Nations global fund for education in emergencies and protracted crises.
Around the world, 222 million children and adolescents impacted by conflict, climate change, displacement and other protracted crises are in need of urgent education support.

Press Statement: International Day of Education

Retrieved on:

Tuesday, January 24, 2023

GENEVA, Jan. 24, 2023 /PRNewswire/ -- The following is a press statement provided by Education Cannot Wait:

Key Points:

GENEVA, Jan. 24, 2023 /PRNewswire/ -- The following is a press statement provided by Education Cannot Wait:
As we mark International Day of Education, world leaders must make good on their promise of quality education for all.
As we mark International Day of Education , world leaders must make good on their promise of providing quality education for all by 2030.
As UN Secretary-General António Guterres highlighted at last year's Transforming Education Summit : "If we are to transform our world by 2030 as envisaged by the Sustainable Development Goals, then the international community must give this (education) crisis the attention it deserves."
When Education Cannot Wait ( ECW ), the United Nations global fund for education in emergencies and protracted crises, was founded in 2016, we estimated that 75 million crisis-impacted children required education support.

Press Statement: International Day of Education

Retrieved on:

Tuesday, January 24, 2023

GENEVA, Jan. 24, 2023 /PRNewswire/ -- The following is a press statement provided by Education Cannot Wait:

Key Points:

GENEVA, Jan. 24, 2023 /PRNewswire/ -- The following is a press statement provided by Education Cannot Wait:
As we mark International Day of Education , world leaders must make good on their promise of providing quality education for all by 2030.
Education is our investment in peace where there is war, our investment in equality where there is injustice, our investment in prosperity where there is poverty.
As UN Secretary-General António Guterres highlighted at last year's Transforming Education Summit : "If we are to transform our world by 2030 as envisaged by the Sustainable Development Goals, then the international community must give this (education) crisis the attention it deserves."
When Education Cannot Wait ( ECW ), the United Nations global fund for education in emergencies and protracted crises, was founded in 2016, we estimated that 75 million crisis-impacted children required education support.