Bloomberg News

European finance chiefs arrived at a meeting of their global peers in Riyadh demanding the urgent creation of a new global tax system for the 21st century that would capture the profits of tech multinationals. U.S. Treasury Secretary Steven Mnuchin responded: it’s not that simple.

Intuit Inc. is close to buying Credit Karma Inc. for about $7 billion in cash and stock deal, The Wall Street Journal reported, citing people familiar with the matter it didn’t identify.

Argentina may be in deep financial trouble, but its central bank is comfortably back in the black — thanks to a small accounting maneuver.

Spain will introduce a digital services tax at the end of the year that would hit the revenue of companies such as Facebook Inc. and Alphabet Inc.’s Google in a move likely to draw the ire of the U.S. administration.

Tax-preparation software companies face headwinds for the revenue they get from each tax return this year due to the combined effect of a rising mix of free filings and lower need for services that assist do-it-yourself filers, according to Morgan Stanley.

Mark Zuckerberg for the first time said he supports efforts to create a global digital tax that would ultimately raise the amount Facebook Inc. pays to foreign countries, in a move that may boost efforts to put a new levy in effect by year-end.

Updating global tax rules could boost government revenue by as much as $100 billion, the Organization for Economic Cooperation and Development said Thursday in an effort to spur complex negotiations between world powers.

The university is dealing with a new levy on college endowments included in the 2017 tax overhaul, the first time private colleges will pay such a fee.

Bernard Ebbers, the ousted chief executive officer at WorldCom Inc. whose corporate malfeasance led to imprisonment, has died. He was 78.

The threat of a new transatlantic trade war diminished after 137 countries agreed to continue negotiations aimed at creating rules for taxing multinational technology companies that receive foreign revenue.