US pushing G20 for global minimum corporate tax: Yellen

Washington (AFP) – The United States is pushing in the G20 to adopt a global minimum corporate tax to stem the erosion of government revenues, US Treasury Secretary Janet Yellen said Monday. Just days after President Joe Biden announced plans to raise corporate taxes to finance a massive $2 trillion infrastructure and jobs program, Yellen said a collective international effort would end the “race to the bottom” on taxation. Biden expressed outrage at multinationals — like Amazon — that have moved to tax havens or used loopholes and pay little to no tax, far less than some individuals, and sa…

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