Broad approval is given for a worldwide minimum corporation tax
Update: 2021-10-30
Description
World leaders meeting in Rome have expressed "broad support" for a landmark deal to establish a 15% global minimum corporate tax. It’s aimed at stopping multinational companies from using clever accounting to escape taxes by using low-rate havens.
Leaders spoke on the proposal during this afternoon’s opening session of the G20 conference of rich nations.
A key question is whether the U.S. Congress will pass legislation to comply, since the United States is home to 28% of the world's 2,000 largest multinationals.
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