The EU put forth new proposals to create a more fair tax system, close loopholes between EU and non-EU nations and provide dispute resolution rules to mitigate problems of double taxation for multinational corporations. The proposal is called the “Common Consolidated Corporate Tax Base (CCTB).” Source: Daily Caller
The United States imposed sanctions on a Russian port service agency and Chinese firms for aiding North Korean ships and selling alcohol and tobacco to Pyongyang in breach of U.S. sanctions. Source: Reuters
il production from Tullow Oil’s offshore Tweneboa, Enyenra and Ntomme (TEN) field in Ghana is expected to hit full output capacity of 80,000 barrels a day by 2020. Source: Reuters
Iraq and Turkey must reach a deal with the Kurdistan Regional Government (KRG) first in order to export oil from the Kirkuk fields in northern Iraq via Turkey. Source: Oil Price
