US President Joe Biden’s administration has proposed a 21 per cent minimum global corporate tax – much higher than the 12.5 per cent discussed in recent years by the Paris-based Organisation for Economic Cooperation and Development. Photo: AFP
Global corporate tax plan gains momentum as nations seek post-pandemic windfall, but will poor countries lose out?
- US President Joe Biden’s administration has proposed a 21 per cent minimum global corporate tax, but headwinds could make a midyear target for the plan difficult to achieve
- World Bank chief expresses concerns that the ‘high’ minimum tax rate proposed for businesses would impede ability of developing nations to attract investment
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G20
US President Joe Biden’s administration has proposed a 21 per cent minimum global corporate tax – much higher than the 12.5 per cent discussed in recent years by the Paris-based Organisation for Economic Cooperation and Development. Photo: AFP
