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U.S. Floats Tax Compromise Targeting 100 International Firms

  • Proposal could renew digital tax talks that have hit a snag
  • Global tax negotiations also centered on minimum taxes
Bloomberg business news
France’s Le Maire Sees Unique Opportunity for New Tax System
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The Biden administration has floated a compromise proposal to counterparts around the world that would apply a new international tax code to, at most, 100 global corporate giants.

The U.S. plan would consider a company’s profitability in determining whether more of its income should be taxed by the countries where it does business -- something the Biden administration argues will resolve long-standing disputes about which companies should be targeted by new global tax rules -- according to a document obtained by Bloomberg News.