Finance Leaders Reach Global Tax Deal Aimed at Ending Profit Shifting

Ireland, which has a tax rate of 12.5 percent, has come out against the global minimum tax, arguing that it would be disruptive to its economic model.France, which had been pushing for a tax rate above 15 percent, wanted to ensure that there remains flexibility for the tax to be higher.The joint statement, or communiqué, released on Saturday suggested that the digital taxes would remain in place for now.“If the American corporate tax rate is 28 percent, and the global tax rate is merely half of that, you can guarantee we’ll see a second wave of U.S. investment research manufacturing hit overseas, that’s not what we want,” Mr. Brady said.The post Finance Leaders Reach Global Tax Deal Aimed at Ending Profit Shifting appeared first on New York Times.

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