Comments from the Treasury Secretary
- US proposing changes to deny foreign corporations in the US the ability to shift profits offshore
- Believes entire EU will go along with minimum taxes
- Ireland to work on minimum tax
- Hopes G7 will adopt a higher tax rate than 15%
- Looking for progress on global minimum tax by the time of G20 leaders’ summit in October
This will be a long, slow path to
implementation corporations lobbying it out of existence.