U.S. Proposal of 15% Global Minimum Tax is Progress: Japan’s Aso

The U.S. proposal for a global minimum corporate tax of at least 15%, a rate below what the Biden administration has floated for the overseas earnings of American firms, represents progress, Finance Minister Taro Aso tells reporters in Tokyo.

• More discussion is needed on ideas for a global minimum tax on corporate profits, Aso says
• Expect progress to be made on global tax agreements, including a digital tax at summer meeting of G-20, but final deals may take until November
• Agenda for next month’s G-7 meeting in London also includes the environment, support for employment, and aid to developing countries ...