(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 tax, which in turn should help solidify support in the U.S. Congress 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 France, Germany, Italy and Japan. 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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