U.S. Treasury proposes global minimum corporate tax rate of at least 15%

FILE PHOTO: The United States Department of the Treasury is seen in Washington, D.C., U.S., August 30, 2020. REUTERS/Andrew Kelly/File Photo

WASHINGTON (Reuters) – The U.S. Treasury said on Thursday it proposed that a global minimum corporate tax rate should be at least 15%, telling an Organization for Economic Cooperation and Development (OECD) tax steering group meeting that it was seeking a higher rate.

“Treasury underscored that 15% is a floor and that discussions should continue to be ambitious and push that rate higher,” the department said in a readout of the OECD meeting.

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