US Floats 15 Percent Global Corporate Tax as ‘Floor’ From Which It Hopes to Push for Higher Rate

As part of its international tax negotiations, the Treasury Department on Thursday offered to accept a global minimum corporate tax of at least 15 percent, calling it a “floor” from which it hopes “ambitious” discussions will push that rate higher. Treasury made the announcement in a Thursday release, which came after two days of meetings as part of the Organization for Economic Cooperation and Development (OECD) / G20 steering group on tax base erosion and profit shifting.

U.S. Treasury Secretary Janet Yellen, the former Federal Reserve chair, holds a news conference after a two-day Federal Open Market Committee (FOMC) meeting in Washington, D.C., on Dec. 13, 2017. Jonathan Ernst/Reuters

As part of its international tax negotiations, the Treasury Department on Thursday offered to accept a global minimum corporate tax of at least 15 percent, calling it a floor from which it hopes ambitious discussions will push that rate higher.

Treasury made the announcement in a Thursday release, which came after two days of meetings as part of the Organization for Economic Cooperation and Development (OECD) / G20 steering group on tax base erosion and profit shifting.