Deputy U.S Treasury chief sees G7 support for 15%-plus global minimum tax

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(Worthy News) – U.S. Deputy Treasury Secretary Wally Adeyemo said he anticipates strong support from the G7 industrial democracies for the Biden Administration’s proposed 15%-plus global minimum corporate , which in turn should help solidify support in the U.S. for domestic corporate tax legislation.

“My sense is that you’re going to see a lot of unified support amongst the G7 moving forward,” Adeyemo told Reuters on Monday after supportive comments about the Treasury’s proposal from , , Italy and . read more

The Treasury last week floated a global minimum rate of 15% or higher, well below the Biden administration’s 21% minimum rate for U.S. companies’ overseas income and its 28% proposed domestic corporate tax rate. [ Source: Reuters (Read More…) ]

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