New IMF estimate suggests the proposed 15% minimum tax would result in governments worldwide collecting a total of about 5.7% more from corporates—or roughly $150 billion.
While Treasury Secretary Yellen expects businesses to back the push for a global minimum tax, the U.S. Chamber of Commerce worries some still-ambiguous elements may disadvantage U.S. businesses.
In his Tax Tips column, Sidney Kess takes a comprehensive look at the Inflation Reduction Act of 2022—a “massive measure” intended to reduce inflation and lower the deficit.
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