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U.S. Agrees that Time is Now for a Global Minimum Corporate Tax Rate
April 7th, 2021
On Monday, new U.S. Treasury Secretary Janet Yellen spoke in front of the Chicago Council on Global Affairs. Amidst ongoing discussions in the U.S. about a proposed $2 trillion economic plan, as well as discussions on financial responses to the pandemic and the Biden administration’s proposed economic and investment policies, Yellen revealed that the U.S. is
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New Oxfam report highlights flaws in Tax Reform Led by OECD
May 6th, 2014
oxfamInternational aid organization, Oxfam, released a new report last Thursday claiming there are a number of flaws with the Organization for Economic Co-Operation and Development's (OECD) plan to implement global tax reforms. The project, known as the Action Plan on Base Erosion and Profit Shifting (BEPS), attempts to address profit shifting, a process in which corporations move profits to subsidiaries in low-tax jurisdictions to avoid paying taxes where the profits were actually generated. Often, the countries in which the real profits were made are developing countries with higher corporate...
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More Compromises for the Budget: Corporate Tax Deferral on Foreign Earnings
November 20th, 2013
The budget conference committee, which is currently charged with negotiating a compromise on the U.S. federal budget, has met publicly for a second time last week. The committee must deliver a report to Congress by December 15 and, to avert another shutdown, Congress must extend government funding by January 15. Leaders in the budget committee leaders have said they “won’t waste time debating the areas where they already know there’s no agreement, but will focus on where deals can be cut.” Some Senate Democrats believe those compromises could lie in tax expenditures—including by eliminating “egregious” loopholes that wealthy individuals and...
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