Confirmation of consensus to end competition for lowering corporate tax rate
Expected to be included in the G7 summit joint declaration
[아시아경제 뉴욕=백종민 특파원] The White House has announced that the G7 will unveil its support for introducing a minimum corporate tax rate of 15%.
“President Biden, together with the G7 leaders, will support the introduction of the lowest 15% corporate tax rate proposed by the United States,” the White House said in a statement released ahead of the opening of the G7 summit, which will be held from today (local time) to 13 (local time). said.
The White House stressed that the US priority is to end the competition against large corporations to cut corporate tax rates in each country over the past decade at the expense of protecting workers, expanding infrastructure investment, and fostering the middle class.
President Biden is pursuing a large-scale infrastructure investment plan, seeking to raise funds through corporate tax hikes. Recognizing that it is necessary to close the tax hole and raise the global corporate tax, Treasury Secretary Janet Yellen has been pushing for the introduction of the global lowest corporate tax.
At the G7 Finance Ministers’ Meeting held prior to the G7 Summit, an agreement was reached on introducing a minimum corporate tax rate of 15%.
The White House also emphasized that it has reached a historic agreement to expand taxation rights where revenue is generated by laying the groundwork for digital tax collection.
The United States mentioned that it is pushing for the reallocation of a special drawing right (SDR) worth $100 billion proposed by the International Monetary Fund (IMF) together with the G7. Through this, the countries most affected by the COVID-19 It will enable economic recovery and promote a more balanced, sustained and inclusive global recovery.
The White House has predicted that this will be announced in the form of a joint declaration at the G7 summit.
New York = Correspondent Baek Jong-min [email protected]
Source: 아시아경제신문 실시간 속보 by www.asiae.co.kr.
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