15 Percent Global Corporate Tax ‘Very Significant Step Forward’: OECD OfficialEpoch Times, United States politics | The Epoch Times

A top official at the Organization for Economic Cooperation and Development (OECD), which is hosting talks on a global corporate tax pushed by the Biden administration, said a 15 percent minimum rate would be a “very significant step forward” that still leaves countries with enough scope to compete to attract multinationals to their jurisdictions. OECD Secretary-General Mathias Cormann made the remarks in an interview with Bloomberg on Monday, which followed a landmark agreement on the tax on Saturday among senior officials from the Group of Seven (G7) countries, which includes the United States. The G7 countries agreed to a minimum global corporate tax rate—which would apply to overseas profits—of at least 15 percent. “It’s important we strike the right balance,” Cormann told Bloomberg. “If we were able to achieve a circumstance where all multinational companies operating globally are required to pay at least 15 percent on their profits, I think that …Read More

Leave a Reply