Australian Treasurer Jim Chalmers expects to see some progress on the global minimum tax reform in the coming days as he flies to India to attend a major G20 meeting. G20 financial ministers and reserve bank governors will gather at Gandhinagar, India, from July 17-18 to discuss crucial issues concerning the global economy. One major…
Australian Treasurer Remains Positive About Progress of A Global Minimum Tax at G20 Meeting
Republicans, Hungarian Officials Unite Against Biden Admin’s Global Tax Deal
July 20, 2022
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Top members of the Republican House Ways and Means Committee met with Hungarian officials and subsequently signaled collective opposition against the Biden administration’s efforts to reach a deal on a global minimum tax of 15 percent on multinational companies. Republican Leader Rep. Kevin Brady (R-Texas), Trade Subcommittee Republican Leader Rep. Adrian Smith (R-Nebr.), and Select…
On The Threshold of Global Tax Tyranny
Fredrich Hayek wrote The Road to Serfdom while Nazism, under Hitler’s global designs, ravaged his native Austria. “Our freedom of choice in a competitive society rests on the fact that, if one person refuses to satisfy our wishes, we can turn to another,” he noted in his classic work on the dangers of big government,…
Experts Fear Biden’s Global Minimum 15 Percent Tax Rate on Big Corporations Could Harm Small Businesses
November 1, 2021
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Experts are concerned that President Joe Biden’s new global minimum tax rate of 15 percent on large multinational business will harm the small businesses that support them. Treasury Secretary Janet Yellen confirmed on Saturday that leaders of the world’s 20 biggest economies (G-20) have endorsed the “historic agreement” on new international tax rules, including a global…
G20 Leaders Endorse Global Minimum Corporate Tax
October 30, 2021
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Treasury Secretary Janet Yellen has confirmed that leaders of the world’s 20 biggest economies (G20) have endorsed a “historic agreement” on new international tax rules, including a global minimum corporate tax. A senior White House official told reporters on Friday that G20 leaders would this weekend formalize their endorsement of a deal establishing a global minimum…
Global Corporate Minimum Tax Sceptics Say ‘Cartel’ Will Lead to Higher Taxes
The global minimum tax has its share of sceptics who foresee higher taxes and other economic hits from the scheme aimed at large multinationals that avoid paying taxes by shifting profits to tax-friendly countries.
Global Corporate Minimum Tax Skeptics Say ‘Cartel’ Will Lead to Higher Taxes
The global minimum tax has its share of sceptics who foresee higher taxes and other economic hits from the scheme aimed at large multinationals that avoid paying taxes by shifting profits to tax-friendly countries.
Nine Countries Reject Global Minimum Tax Deal, Sending It Down Rocky Road to Completion
July 6, 2021
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Nine countries have refused to sign onto an international tax reform framework that includes a 15 percent global minimum corporate tax pushed by the Biden administration as a way to reduce international tax arbitrage by U.S. multinationals and blunt the impact of President Joe Biden’s proposed domestic corporate tax hike. While officials from 130 out…
Deep Dive (July 2): 130 Countries Back 15 Percent Global Minimum Corporate Tax: Yellen
Challenges lie ahead for rescue teams in Surfside. Rescue crews are back, searching through the rubble of the Florida condo collapse. They resumed Thursday night, after having to stop for 15 hours over safety concerns. Pressing concerns include the stability of the portion of the building that still stands. The next challenge is the weather….
G7 Tax Deal Could Face Senate Hurdle as It Affects US Firms the Most
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, however, met swift opposition from Republicans who called it “tax surrender” for the United States. Studies show that U.S. companies are likely to see the…
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