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U.K.’s Sunak Isn’t Convinced on Biden’s Global Business Tax Plan

May 17, 2021, 4:00 AM

British officials aren’t convinced by President Joe Biden’s plan for a global minimum business tax rate of 21%, drawing accusations of “evasion and sophistry” from tax justice campaigners.

Chancellor of the Exchequer Rishi Sunak and his team are concerned the rate may be too high over the long term, even though the U.K. intends to raise its corporation tax to 25% in 2023 to repair public finances after the pandemic.

Britain wants the U.S. and other nations to focus instead on measures to make big multinational companies -- especially digital giants like Amazon.com Inc. -- pay more of their ...

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