News Snapshot:
US President Joe Biden ’s proposal to set a minimum global corporation tax at 21 per cent is gaining momentum, with the official running international talks on the matter saying that an agreement could settle near that rate. The Biden administration’s plan has turbocharged negotiations at the Organisation for Economic Cooperation and Development (OECD) on how to overhaul rules on how much tax companies pay, and where. The US suggestion, while subject to negotiations in the US Congress, would be significantly higher than the 12.5 per cent previously discussed in the talks. “Will Biden get to 21 per cent, or...
