Biden's Global Corporate Tax: The Tax Haven Killer Explained - TLDR News

The video discusses the concept of a global corporate tax, proposed by US President Joe Biden, aiming to set a minimum tax rate of 15% worldwide. This initiative seeks to prevent companies from shifting profits to low-tax countries, known as tax havens, and to reallocate tax revenues to where sales occur. The proposal could significantly impact tax havens and countries like Ireland, which attract businesses with low tax rates. The plan is expected to be presented at the G7 and G20 meetings, with potential challenges from EU countries requiring unanimity in tax decisions.

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