Other finance ministers indicated that the delay was another sign of progress.“It’s very, very good that we are now going to the next step, discussing how we will implement this […]
Taxation
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Back to news homeGlobal Tax Overhaul Gains Steam as G20 Backs New Levies
Absent unanimous approval among the members of the European Union, an accord would stall. Establishing a minimum tax would require an E.U. directive, and directives require backing by all 28 […]
U.S. Proposal for Global Minimum Tax Gets Backing From 130 Countries
Breezy Caribbean island tax havens also declined to sign on, including Barbados, Saint Vincent and the Grenadines. Hungary and Estonia, which are keen to preserve their ultralow tax regimes, joined […]
Plan to Revive I.R.S. ‘Wealth Squad’ Puts the Richest on Notice
Right now, the key for filers is to make sure their tax return tells a consistent story, he said. If that story changes — say, when a lawyer becomes an […]
ProPublica Report Has Congress Rethinking How to Tax Superrich
WASHINGTON — A jaw-dropping report by ProPublica detailing how America’s richest men avoided paying taxes has intensified interest in Congress, even among some Republicans, in changing the tax code to […]
Rich Americans Like Bezos, Musk, Buffett Avoided Income Tax
Lawmakers like Senator Elizabeth Warren, Democrat of Massachusetts, have championed the idea of placing a 2 percent tax on an individual’s net worth above $50 million — including the value […]
Yellen Aims to Win Support for Global Tax Deal
Ireland has been one of the most vocal critics of the Biden proposal. Its 12.5 percent corporate tax rate has helped fuel the so-called Celtic Tiger economy since the 1990s, […]
Republicans Push Biden to Divert Federal Aid for Infrastructure
WASHINGTON — From California to Virginia, many states that faced devastating shortfalls in the depths of the pandemic recession now find themselves flush with tax revenues because of a rebounding […]
U.S. Backs Global Minimum Tax of at Least 15% to Curb Profit Shifting Overseas
The Biden administration proposed a global tax on multinational corporations of at least 15 percent in the latest round of international tax negotiations, Treasury Department officials said on Thursday, as […]
Biden Defends Unemployment Benefits, Provided Workers Accept Job Offers
WASHINGTON — President Biden ordered the Labor Department on Monday to ensure that unemployed Americans cannot draw enhanced federal jobless benefits if they turn down a suitable job offer, even […]