The Treasury Department issued a statement in response to a report in today’s Financial Times about a new US corporate tax reform proposal.
According to the report, as part of the OECD’s corporate tax reform process, the US will come up with new proposals that could allow some of the profits of the world’s largest multinational to be taxed in countries where it does its sales.
This means that the US now supports both of the main principles behind the plans to change international tax rules.
The Biden administration has already expressed its support for a global minimum corporate tax rate.
In a statement, the Treasury Department said: “… Ireland wants to achieve a sustainable, resilient and growth-friendly agreement among the 139 members of the Inclusive Framework that will meet the needs of all countries, large and small, that are being developed and developed.”
It goes on to say: “… Ireland is aware of the US proposals that will be presented to the OECD this week. We will participate constructively in these discussions and will examine all proposals carefully, pointing out that discussions at a political level will increase These issues have not yet taken place with the 139 countries involved in this process. “