Global minimum tax rate could drive business away from US, watchdog warns

global minimum tax rate could drive business away from us watchdog warns

Sumary of Global minimum tax rate could drive business away from US, watchdog warns:

  • President Biden and leaders of the G-7 group of nations will endorse a global minimum corporate tax rate of at least 15% on Friday, a policy that could ultimately drive business investment away from the U.S..
  • That’s according to the Taxpayer Protection Alliance (TPA), a nonprofit advocacy group based in Washington, D.C., which argues that a higher global minimum rate would ultimately be “passed on to workers and consumers through reduced compensation and higher prices.”.
  • “We won the race to the top, having the highest corporate tax rate in the industrialized world prior to the tax reforms of 2017,”.
  • “Biden global minimum corporate tax isn’t so much about ending the competition between nations, but rather ending the competition between progressives’ wishes and reality.”.
  • But the Biden administration is arguing the minimum rate will build a more equitable tax system that will help “deliver a foreign policy for the middle class and will help support working families everywhere.”.
  • Yellen and the Biden administration recently embraced a long-stalled effort to revamp the international tax system, throwing the full weight of the U.S….

Want to know more click here go to source.

From -
Close
Generic selectors
Exact matches only
Search in title
Search in content

Site Language


By continuing to use the site, you agree to the use of cookies. more information

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close