( dpa)– United States Treasury Secretary Janet Yellen has actually required an international minimum business tax rate for business that work globally.
“We are working with G20 nations to agree to a global minimum corporate tax rate that can stop the race to the bottom,” Yellen stated Monday in remarks to the Chicago Council on Global Affairs.
“Together we can use a global minimum tax to make sure the global economy thrives based on a more level playing field in the taxation of multinational corporations, and spurs innovation, growth, and prosperity,” she stated.
The administration of previous President Donald Trump had actually turned down such efforts, fearing that it would put United States corporations that work globally in an even worse position.
Trump was likewise versus a digital tax for web business such as Amazon, Google orApple The concept has actually mostly acquired traction in Europe.
The brand-new United States administration of President Joe Biden is likewise available to this and is looking for a compromise service within the structure of the settlements of the Organization for Economic Co- operation and Development (OECD).
European critics have actually long held that United States corporations pay insufficient tax in the markets they serve.