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published in Blogs
May 21, 2021
US Treasury proposes global corporate minimum tax rate of 15%

US Treasury proposes global corporate minimum tax rate of 15%

On Thursday, the U.S. Treasury proposed a minimum global corporate tax rate of 15%.

The proposal is part of discussions with the Organization for Economic Cooperation and Development (OECD) and G20 officials over the past two days.

During the discussions “Treasury expressed its belief that the international tax architecture must be stabilized, that the global playing field must be fair, and that we must create an environment in which countries work together to maintain our tax bases and ensure the global tax system is equitable and equipped to meet the needs of for the 21st century global economy,” the Treasury said in a statement.

Many large U.S. companies are known to avoid higher taxes by setting up headquarters in tax haven countries such as Ireland and the Cayan Islands. 

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