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Corporate tax increases move closer to reality

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The U.S. and other countries are moving forward on increasing tax rates on multinational corporations, with the Biden administration and G-20 leaders agreeing on the need for more revenue.
Earlier this month, G-20 leaders agreed on a plan to impose a minimum tax rate of 15% on corporations and to keep companies from shifting their profits to low-tax countries. New data released Thursday by the Organization for Economic Cooperation and Development indicated that multinational corporations have continued to shift their profits to other countries despite record low tax rates (
see story). Between the U.S. and international moves, companies are turning to tax experts for advice on how to keep their taxes low.

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