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Europe Moves Ahead on Minimum Corporate Tax as U.S. Stalls
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The European Union Wednesday outlined its plans for implementing a global minimum tax rate on corporate profits in 2023 and said it is still confident the U.S. will be able to join it despite a recent setback in Congress.
The plan to impose a tax of at least 15% on the profits of large, international companies was agreed by 136 countries in early October and approved by President Biden and the other leaders of the Group of 20 leading economies later that month.
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