Scoop with @JamesPoliti and @Aime_Williams
The US really wants to make its global minimum corporate tax plan work and has just made a big concession to other countries in a bid to sue for peace internationally on.ft.com/3cVVWgS
The US really wants to make its global minimum corporate tax plan work and has just made a big concession to other countries in a bid to sue for peace internationally on.ft.com/3cVVWgS
If others roll back their digital taxes, US has recognised for the first time they should have the right to a slice of revenues from the likes of Google, Apple, Facebook, Amazon etc based on sales in their jurisdictions
The suggestion is that apportionment rules should apply to all the sales on just the largest and most profitable multinationals globally. The results would be similar to those proposed by the OECD, but without specifically targeting digital companies (although they all be caught)
Clear that the Biden administration wants to use its power to get a global agreement that raises the power of all governments over the might of global multinational giants
Quite the change
ENDS
Quite the change
ENDS
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