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WASHINGTON— The groundbreaking global corporate-tax agreement secured last year by Treasury Secretary Janet Yellen included a “failsafe” measure to encourage compliance by its 137 signatories.
Some countries are waiting to see the outcome of negotiations.
Negotiators confident built-in 'failsafes' mean agreement can still proceed despite American legislators' opposition to 15% minimum rate
Global minimum tax would damage productivity, workers wages.
Today the government has published legislation confirming that low earners who save through a Net Pay Arrangement (NPA) will get the same level of government top-up as those who use Relief at Source schemes.