How Long Will “Bidenomics” Go? Joe Biden’s government has proposed a global tax rate of 15% “At least” For businesses, this Thursday, the Organization for Economic Co-operation and Development (OECD) held talks with negotiators from 24 partner countries. However, the US Treasury says that rate is that “Is a floor” Discussions will continue with the aim of “Desire” And “To increase this rate”.
Initially, the discussions indicated a 21% tax on corporate profits regardless of the country where the head office is located. Their suggestion in the opinion of U.S. officials “An important moment in the discussions” It lasts for more than two years and welcomes them “excited”. On Tuesday, April 27, France and Germany already agreed to support a 21% “world tax”.
However, in order to see the light of day, countries will have to change their laws, which promise complex implementation. All states, including tax sites, must play the game. For example, Ireland (and its corporate tax rate of 12.5%) is not included in these discussions. The OECD has already expressed doubts about such measures.
A deal expected in the summer
“We must end this race.”U.S. Treasury Secretary Janet Yellen was struck by thunder during a speech in Chicago in early April. The device has been fighting for several weeks to attract companies to their territory, end competition between countries and ensure a competitive environment for them by offering lower tax rates.
The Biden administration hopes to reach an agreement in principle this summer New York Times. The U.S. head of state will count on worldwide success and accelerate his plan to raise the corporate tax rate in the United States to 28 percent, currently at 21 percent. The OECD is considering a deal with G20 Finance on July 9 and 10, followed by a final meeting in October.