The US Treasury Secretary has announced that it will discuss ways to set a lower corporate tax limit with G20 countries to prevent corporate taxes from being lowered below a certain level. This is interpreted as a proposal to reduce the side effects of the Biden government’s corporate tax increase.
This is Kim Jong-won’s correspondent from New York.
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U.S. Treasury Secretary Janet Yellen has announced that he will work with countries in the top 20 G20 countries to set a lower corporate tax limit.
[재닛 옐런/미 재무장관 : 각국이 함께 한다면 국제 법인세 하한선을 시행해 세계 경제를 부흥시킬 수 있을 겁니다. 지금보다 더 공정한 무대가 마련될 겁니다.]
He said countries around the world should stop competing to lower corporate taxes and that they will attend this week’s IMF and World Bank meetings to discuss these options.
The dominant analysis is that the US Treasury Department’s proposal is due to President Biden’s policy to raise corporate taxes in the US
[바이든/미국 대통령 : 법인세는 원래 36%였었는데 이게 현재 21%까지 내려온 상황입니다. 비정상적인 일이죠. 모두가 공정하다고 생각하고 있는 28%로 법인세를 올리는 방안을 논의 중입니다.]
Large infrastructure investments being promoted by the Biden administration require a budget of over 2.2 trillion dollars, and a corporate tax increase is inevitable to cover this.
But in that case, there were concerns that companies in the United States could leave in search of cheaper corporate taxes, and they proposed setting lower corporate tax limits in major countries.
The Treasury Department is planning to lead international cooperation led by the United States, but some analyzes say that it is not known to what extent it will actually be possible.