Global Minimum Tax Near 21% Is Feasible, OECD Official Says

May 5, 2021, 3:54 PM

U.S. President Joe Biden’s proposal to set a minimum global corporation tax at 21% is gaining momentum, with the official running international talks on the matter saying that an agreement could settle near that rate.

The Biden administration’s plan has turbocharged negotiations at the Organization for Economic Cooperation and Development on how to overhaul rules on how much tax companies pay, and where. The U.S. suggestion, while subject to negotiations in Congress, would be significantly higher than the 12.5% previously discussed in the talks.

“Will Biden get to 21%, or will it be a bit lower? We’ll see,” Pascal ...

To read the full article log in. To learn more about a subscription click here.