Yellen to press G20 for higher minimum corporate tax rate -U.S. Treasury
07/06/2021 | 03:42pm EDT
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WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen will press G20 counterparts this week for a global minimum corporate tax rate above the 15% floor agreed by 130 countries last week, but a rate decision is not expected until future phases of negotiations, U.S. Treasury officials said on Tuesday.
The specific rate, and potential exemptions, are among issues still to be determined after 130 countries reached an historic agreement at a Paris-based Organisation for Economic Co-operation and Development (OECD) meeting last week. The countries outlined a global minimum tax and the reallocation of taxing rights for large, highly profitable multinational firms.
US Yellen to urge higher minimum corporate tax rate
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