Category: global minimum corporate tax

Biden Budget Crafts ‘Top-Up Tax’ to Meet Global OECD Agreement

The U.S. Treasury Department unveiled a new policy proposal to ensure the 15 percent global corporate minimum tax is properly instituted.   As part of President Joe Biden’s $5.8 trillion 2023 budget documents published Monday, the Treasury put forward the new Undertaxed Profits Rule (pdf). This would replace the present U.S. Base Erosion Anti-Abuse Tax,…


15 Percent Global Corporate Tax ‘Very Significant Step Forward’: OECD Official

A top official at the Organization for Economic Cooperation and Development (OECD), which is hosting talks on a global corporate tax pushed by the Biden administration, said a 15 percent minimum rate would be a “very significant step forward” that still leaves countries with enough scope to compete to attract multinationals to their jurisdictions. OECD Secretary-General…