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Topic: corporate tax reform
The Biden administration is pursuing nothing short of a complete turnaround on taxation.
US Treasury Secretary Janet Yellen has argued in favour of a global minimum corporate tax rate in a speech to the Chicago Council on Global Affairs on Monday.
The 137 countries that are trying to reform global rules for corporate taxation to address the challenges presented by the digital economy were not able to reach a deal at virtual meetings last week.
OECD plans for a global minimum tax could seriously halt the economic recovery following the COVID-19 pandemic, according to the National Taxpayers Union.