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An idea on taxation that is worth a try
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The proposal for a minimum global corporate income tax could be a game changer
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The proposal for a minimum global corporate income tax could be a game changer
United States Secretary of the Treasury Janet L. Yellen’s proposal for global coordination of corporate taxation has huge implications. She has proposed a global minimum tax rate. If the major world economies agree and the U.S. Congress approves the increased tax rates, it would constitute a reversal of the trend in tax policies since the collapse of the Soviet Bloc 30 years back. Would Ms. Yellen succeed in convincing OECD countries and the U.S. Congress? David R. Malpass, President of the World Bank, representing the interest of global capital, has voiced his opposition. He was shooting from the shoulders of the poor countries when he said the proposal “.would hinder poor countries’ ability to attract investment”.
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