It’s called a global minimum corporate tax – designed to crack down on tax havens and levy large, profitable multinational corporations in new taxes.
Details remain to be worked out, but according to the OECD, if the plan goes into effect, it could generate around $ 150 billion annually in additional global tax revenue – and reshape the world economy. CGTN’s Toby Muse has a report.
- John Gong is an economics professor at the University of International Business and Economics in Beijing.
- Joel Rubin is a Democratic strategist and national security analyst. He was US Deputy Secretary of State in the Obama administration.
- Surupa Gupta is Professor of Political Science and International Affairs at the University of Mary Washington.
- Arthur Dong is a professor of economics and business administration at Georgetown University.
Treasury Secretary Janet Yellen said upcoming negotiations on a proposed global minimum corporate tax should clarify what levies may be allowed https://t.co/FzHTqZD8r7
– The Wall Street Journal (@WSJ) July 13, 2021
Multinational finance managers are trying to analyze the potential impact of a global minimum tax on their businesses, many of them being skeptical about the proposal’s implementation anytime soon https://t.co/RkCEzBikAd
– The Wall Street Journal (@WSJ) July 12, 2021
130 countries support the global minimum corporate tax of 15% https://t.co/mku0n3QnuV pic.twitter.com/7VBkellbXJ
– Reuters (@Reuters) July 1, 2021
The European Union has agreed to postpone a digital levy as policy makers continue to push for a global minimum tax. https://t.co/V93goK8Ho0
– NYT National News (@NYTNational) July 12, 2021