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U.S. Treasury says Ireland tax decision puts global minimum tax within reach

Published 10/07/2021, 05:47 PM
Updated 10/07/2021, 05:50 PM
© Reuters.

WASHINGTON (Reuters) - Ireland's decision to drop its opposition to a revamp of global tax rules puts the world on course for a "generational achievement" of a global minimum tax that will boost U.S. competitiveness, a U.S. Treasury spokesperson said on Thursday.

The spokesperson said in a statement that the global minimum tax "would create a more level playing field so jobs and investment can flourish, and produce reliable revenues to fund programs that will benefit working and middle class families."

Another Treasury official, who also said Treasury was pleased with Ireland's decision, said the 15% agreed global minimum tax rate would be a floor, not a ceiling, allowing countries to set higher rates to suit their needs.

 

 

Latest comments

The global tax change would be a treaty under U.S. law so would require congressional approval. It would never pass the senate as republicans would support a tax.
This is like straight up anti-trust price fixing back room shady mafia kind of stuff... one world government  here we come...
An irrelevant achievement at best.  Governments have far more levers besides taxation.  Differences in unemployment insurance programs, medical insurance programs, rebate programs, grants, etc. all can have an impact on corporate profitability as much as taxation.  Nothing more than a way for politicians to look good for their followers.
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