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U.S. Treasury's Yellen calls for global minimum corporate tax

EconomyApr 05, 2021 11:35AM ET
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© Reuters. FILE PHOTO: U.S. Treasury Secretary Yellen attends economic briefing at the White House in Washington

WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen said on Monday that she is working with G20 countries to agree on a global corporate minimum tax rate to end a "30-year race to the bottom on corporate tax rates."

In prepared remarks to the Chicago Council on Global Affairs, Yellen said she also would use her participation in International Monetary Fund and World Bank annual meetings this week to advance discussions on climate change, improve vaccine access and encourage countries to support a strong global recovery.

Yellen said it was important to make sure governments "have stable tax systems that raise sufficient revenues in essential public goods and respond to crises, and that all citizens fairly share the burden of financing government."

Separately, a U.S. Treasury official told reporters that it was important to have the world's major economies on board with a global minimum tax to make it effective.

The official said the United States would use its own tax legislation to prevent companies from shifting profits or residency to tax haven countries and would encourage other major economies to do the same

U.S. Treasury's Yellen calls for global minimum corporate tax
 

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Comments (9)
Mart Bab
Rubberduck1973 Apr 05, 2021 6:48PM ET
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The Russian trolls are hard at work. So much garbage opinions below I start asking myself why https://investing.com?
vince smith
vince smith Apr 05, 2021 6:48PM ET
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Why dont you point out the "Russian trolls" and make your case instead of making such an arbitrary statement with no facts or reason. My guess is you just label people if you don't agree with them. No logic or reason just emotions.
vince smith
vince smith Apr 05, 2021 3:01PM ET
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This is an empire failing a last effort at trying to save itself. America has borrowed and printed money to the point of destruction. If this fails going to war will be the next option.
Nathan Prather
Nathan Prather Apr 05, 2021 2:29PM ET
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And let me guess, we should set it at 28 percent so that all the corporations don't immediately flee once Biden signs this bloated thing. It needs to do more for bullet trains for one. It does nothing to address the fact that we don't have the mag-lev technology to do bullet trains. ever wonder why Japan and China have so many bullet trains? because they have the t chnology. The one way this can really make a difference is to set up mag-lev system production in the U.S. And bankrupting businesses and causing them to flee just so they can make a dime Is the wrong way to do it.
Casador Del Oso
Casador Del Oso Apr 05, 2021 12:43PM ET
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You go girl! I will be loading up on XOUT once the SP500 hits 2200. A once in a lifetime opportunity!
Roger Miller
Roger Miller Apr 05, 2021 12:21PM ET
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Politicians and bureaucrats working hard to protect their wealth and illusion of usefulness.  The only thing they can do which would benefit the populace is minimize what they do and reduce taxes for everyone.
Mart Bab
Rubberduck1973 Apr 05, 2021 12:21PM ET
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I am happy you are not a politician? Yes I am
Roger Miller
Roger Miller Apr 05, 2021 12:20PM ET
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Standardized tax rates just means more fights over subsidies and social programs, such as unemployment insurance, medicare, etc. which benefit or hinder corporations just as much taxation levels.
WILLIAM HAGERTY
WILLIAM HAGERTY Apr 05, 2021 12:11PM ET
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it won't work unless everyone does it my way..
Scott Davanzo
Scott Davanzo Apr 05, 2021 11:53AM ET
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These people arent helping anything theyre ruining it. Bring back TRUMP
Darren Ikin
Darren Ikin Apr 05, 2021 11:53AM ET
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just don't send the conman ur money
Chris Stripling
Chris Stripling Apr 05, 2021 11:53AM ET
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Brainwashed dullards. Sad
danny Levine
danny Levine Apr 05, 2021 11:22AM ET
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she ruined America already, now has to drag everyone else down along the way
taylor jason
taylor jason Apr 05, 2021 11:22AM ET
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how is creating a tax standard that goes across multiple counties a bad thing? it will finally get rid of regulatory arbitrage which means more money will finally come home to the US which will trickle down through our economy instead of every other tax haven country
danny Levine
danny Levine Apr 05, 2021 11:22AM ET
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there will always be countries with lower taxes. more tax means more companies fleeing from America.
danny Levine
danny Levine Apr 05, 2021 11:22AM ET
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making America competitive is the right and the only way
 
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