G-20 Corporate Tax Compact Would Fork Over Cash to American Coffers
The G-20 meetings of world economic leaders spent some time focusing on global corporate tax rates and how huge corporations avoid taxes in high tax rate countries. Proposals include: The G-20 proposal would 1) introduce a minimum global tax rate of 15% on the profits of corporations with $865 million or more in annual revenue, and 2) mandate tax revenues stay in the countries where the sales were made. This could pull back much in the way of American corporate taxes paid abroad.