Yellen pushes countries to 'give up the game' on corporate taxes

Washington (AFP) – Raising US corporate taxes could spur similar moves by other countries and hasten the establishment of a global minimum corporate tax, US Treasury Secretary Janet Yellen said  on Wednesday. President Joe Biden last week unveiled a $2 trillion jobs and infrastructure plan paid for in part by an increase in the domestic corporate tax rate, which was lowered in 2017, and by sweeping up more of profits stashed overseas. A unilateral tax hike could put the United States at a disadvantage with other nations with lower rates, but Yellen predicted the proposed increase would encoura…

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