WASHINGTON—The Group of Seven (G-7) leaders rallied around a global tax deal last week in an effort to make big multinational companies pay their fair share of taxes. The deal met with swift opposition from Republicans, who called it “tax surrender” for the United States. Studies show that U.S. companies are likely to see the…
G7 Agrees on Global Minimum Corporate Tax, But Details Need Working Out
The world’s leading industrial nations reached an accord on June 5 to set a global minimum tax rate, in an effort to discourage multinational corporations from shifting profits to low-tax countries. While the accord is a significant breakthrough, for those seeking international agreement on corporate taxes, there is more work ahead. Group of Seven (G-7) nations…
G-7 Agrees on Global Minimum Corporate Tax, But Details Need Working Out
The world’s leading industrial nations reached an accord on June 5 to set a global minimum tax rate, in an effort to discourage multinational corporations from shifting profits to low-tax countries. While the accord is a significant breakthrough for those seeking international agreement on corporate taxes, there’s more work ahead. The Group of Seven (G-7) nations…
NTD Business Full Broadcast (June 7)
Jeff Bezos is going to space. It’ll be his rocket company’s first crewed space flight ever, and it’s set for takeoff next month. The Treasury Secretary isn’t worried multi-trillion dollar spending proposals will cause prices to rise. And it could even be a good thing if they do. The new G7 tax deal is designed…
White House Economic Adviser Says Global Minimum Corporate Tax Needed to Offset Biden Tax Hike
Cecilia Rouse, chair of the Council of Economic Advisers, said the Biden administration continues to urge its trading partners to adopt a global minimum tax on corporations to offset the impact of President Joe Biden’s proposed domestic corporate tax increase. “The idea is to make sure that corporations are paying their fair share, to button up…
White House Economic Adviser Says Global Minimum Corporate Levy Needed to Offset Biden Tax Increase
Cecilia Rouse, chair of the Council of Economic Advisers, says the Biden administration continues to urge its trading partners to adopt a global minimum tax on corporations to offset the effects of President Joe Biden’s proposed domestic corporate tax increase. “The idea is to make sure that corporations are paying their fair share, to button up…
Talks Over Global Minimum Tax Pushed by US Gains Momentum
WASHINGTON—Treasury Secretary Janet Yellen urges other countries to support a global minimum tax rate for corporations, which is crucial for funding President Joe Biden’s infrastructure proposal, called the American Jobs Plan. The Biden administration proposes substantial tax increases on U.S. corporations to pay for the $2.3 trillion plan aimed at boosting investment in infrastructure, clean energy, manufacturing,…
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