Install Sina Finance client to receive the most comprehensive market information at the first time →【 Download address 】
US Treasury Secretary Janet Yellen said on Monday that she was working with the Group of 20 (G20) countries to agree on a global minimum corporate tax rate to end the "30-year bottom to bottom competition in corporate tax".
Since Trump's tax reform in 2017 significantly reduced the corporate tax rate from 35% to 21% lower than the international average (24%), many countries have reduced tax rates to attract multinational enterprises.
Yellen said that the lowest corporate tax in the world can ensure a fairer competitive environment and help stimulate innovation and increase Long and boom.
Yellen said that it is important to ensure that the government "has a stable tax system to increase the income of necessary public goods and deal with the crisis, and make all citizens bear the burden of raising funds for the government fairly."
In addition, an official of the US Treasury Department said that it is important to let the world's major economies join the global minimum corporate tax mechanism to make it effective.
The official said that the United States would use its own tax legislation to prevent enterprises from transferring profits or headquarters to tax havens, and would encourage other major economies to do the same.
Yellen said that she will also take the opportunity of attending the annual meetings of the International Monetary Fund (IMF) and the World Bank this week to promote the discussion on climate change, improve the availability of new vaccines, and encourage countries to support a strong global recovery.
Scan the QR code and open an account quickly in 3 minutes>>
Massive information, accurate interpretation, all in Sina Finance APP
Editor in charge: Zhang Yujie SF107
