icon bookmark-bicon bookmarkicon cameraicon checkicon chevron downicon chevron lefticon chevron righticon chevron upicon closeicon v-compressicon downloadicon editicon v-expandicon fbicon fileicon filtericon flag ruicon full chevron downicon full chevron lefticon full chevron righticon full chevron upicon gpicon insicon mailicon moveicon-musicicon mutedicon nomutedicon okicon v-pauseicon v-playicon searchicon shareicon sign inicon sign upicon stepbackicon stepforicon swipe downicon tagicon tagsicon tgicon trashicon twicon vkicon yticon wticon fm
27 May, 2021 15:21

Can the US get other countries’ support for a global corporate tax hike? RT’s Boom Bust finds out

Can the US get other countries’ support for a global corporate tax hike? RT’s Boom Bust finds out

An intense discussion has broken out about the US proposal to hike the global corporate tax to at least 15%, with more than 130 nations currently involved in the debate.

So far, the increase has received positive comments from France, Germany, Italy and Japan, and the US is hoping to get support from all the G7 members.

Also on rt.com Ireland rejects Biden’s push for global corporate tax hike, as finance minister vows to keep rates low

RT’s Boom Bust talked to Economic Update host Professor Richard Wolff and Jeffrey Tucker, author of ‘Liberty or Lockdown’, to explore what’s next for the initiative and whether everybody is expected to be on board.

According to Professor Wolff, the very idea is to limit the use of taxes as a competitive tool that helps governments bring investment to their countries.

However, it remains an open question which states support the idea and which ones oppose it, according to Tucker.

For more stories on economy & finance visit RT's business section

Podcasts