US President Joe Biden has announced details of his plan to raise an additional $2.5 trillion in corporate taxes over the next 15 years. The money will be used to help fund a massive investment in America’s infrastucture. The proposal may also boost efforts to overhaul the global system for taxing multinational companies, and in particular technology giants. Plans to establish or expand a global minimum corporate tax, and reallocate firms’ tax liabilities based on where they make money could help secure agreement in ongoing negotiations on the issue at the OECD.
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