The Secretary of the Treasury will make this recommendation in a speech on Monday.
On Monday, U.S. Treasury Secretary Janet Yellen will deliver a speech in favor of introducing the lowest global tax rate related to corporate taxes. According to the website, it shows excerpts from her speech at the Chicago Council of Global Affairs.
Axios Who can access the excerpt.
A few days ago, US President Joe Biden (Joe Biden) announced its huge infrastructure. If approved by Congress, this will be raised by increasing the US corporate tax from 21% to 28%. Several ministers have been appointed to work on this tax increase.
At the same time, it is said that Yellen’s task is to start an international debate. According to Axios, Monday’s speech will set the tone for the annual spring meeting of the International Monetary Fund (IMF) and the World Bank, which will be held in digital form later this week.
According to the website, Yellen said in his speech: “Competitiveness is more than just how companies headquartered in the United States compare to other companies in the global battle of acquisitions and mergers.”
Yellen would then say that this is about countries with stable tax systems that should pay enough income to be able to invest in basic welfare and deal with crises. And by funding public institutions to ensure that all citizens “share the burden” fairly.
Yellen said in his speech that we will work with the Group of 20 (G20) countries to agree on a minimum corporate tax level to prevent bidding.