US Treasury Secretary Janet Yellen points out that each country's competitive reduction in corporate tax rates to attract businesses has weakened the country's tax revenue base, a common minimum among major countries. Proposed to set a tax rate.
This was revealed by Treasury Secretary Janet Yellen at an online economic forum on the 5th.
In this, Treasury Secretary Janet Yellen said, "The world has been competing to reduce the corporate tax rate for 30 years." Pointed out that it is weakening.
He added, "By introducing a minimum tax rate, more equitable taxation of global companies will lead to the development of the world economy." To stop the competition for reduction, set a common minimum tax rate among major countries. I advocated.
The Biden administration in the United States has indicated a policy to raise the corporate tax rate in order to secure the financial resources for the huge amount of infrastructure investment announced earlier, and this statement seems to be based on these domestic circumstances.
Treasury Secretary Janet Yellen is expected to mention the international tax framework at the upcoming online G20 meeting of finance ministers and central bank governors of the 20 major countries on the 7th of Japan time.