WB warns against ‘high’ global tax minimum | Sunday Observer

WB warns against ‘high’ global tax minimum

11 April, 2021

The head of the World Bank (WB) has warned world leaders against setting a global minimum tax rate for companies that is too high. David Malpass said he did not want to see new rules that would hinder poor countries’ ability to attract investment.

The 21% global minimum rate called for by US Treasury Secretary Janet Yellen “strikes me as...high”, he added.

Officials said on Wednesday they hope to reach a global tax deal by mid-year.

Ms Yellen has said a global minimum tax on companies is necessary to stop a “30-year race to the bottom”, which has seen countries slash rates on companies, in an effort to woo business investments.- BBC