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The United States aims to have a global corporate tax rate of at least 15 percent

The United States wants a global minimum corporate tax rate.

Brief essentials

  • It is about preventing tax competition and corrosion of the tax base.
  • The US initiative received a positive response in Germany and France.

The United States supports one Global corporate taxation At a rate of at least 15 per cent. In the Organization for Economic Co-operation and Development (OECD) and two-day talks G20The group of states, the U.S. Treasury Department proposed the minimum tax rate, announced in Washington on Thursday. It is therefore the intention of the Ministry to raise this tax rate as much as possible in negotiations.

U.S. Treasury Secretary Janet Yellen In a speech in early April he had already suggested a global minimum tax rate for companies, but had not yet specified a specific tax rate for that time. He said at the time that international cooperation was needed to prevent tax competition and erosion of the tax base.

The US initiative received a positive response in Germany and France. In an interview with the online portal Jeet in April, Union Finance Minister Olaf Scholes (SPD) and his French counterpart Bruno Le Myre expressed their desire to support a global minimum tax rate of up to 21 percent. The OECD promotes a 21 percent tax rate.

Stop the international competition ¬ędown

The U.S. Treasury Department has now reaffirmed that international competition in corporate taxes must be stopped “downward.” The lower tax would undermine the United States and other countries’ ability to “earn the return needed for substantial investment.”

President of the United States Joe Biden Wants to raise corporate taxes by two trillion in their own country Dollar (Approximately 1.65 trillion euros) to fund a heavy infrastructure project. According to his plans, the tax rate will rise from the current 21 per cent to 28 per cent.

Plans for a global minimum tax for companies have long been in place. This material is a major concern of the federal government in Berlin. The background to this is the tax avoidance strategies of large corporations, for example, that transfer arithmetic to countries with lower tax rates.

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