U.S. Congressional Research Service Publishes Report on Minimum Taxes on Business Income

The U.S. Congressional Research Services (CRS) has published a new report dated 25 August 2021 on Minimum Taxes on Business Income: Background and Policy Options. The report summary is as follows:

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Minimum Taxes on Business Income: Background and Policy Options

Some large corporations pay little or no U.S. tax as they report significant profits to shareholders. In an effort to curb tax avoidance among the largest corporations, the Biden Administration has proposed a 15% minimum tax on…