International taxes

Republicans are working on developing a far smaller infrastructure package than the Biden administration’s American Jobs Plan, relying on user fees such as tolls instead of corporate tax increases.

A surprise U.S. drive to overhaul international corporate taxation promises a new era for governments to capture a bigger tax take from some of the most successful global businesses — if only the rest of the world can agree.

The U.S. is proposing that countries should be able to tax more corporate profits based on revenues within their borders, according to two people familiar with the offer.

Group of 20 finance chiefs, encouraged by new U.S. proposals, pledged on Wednesday to reach a consensus on new rules by mid-year.

The Treasury secretary says the plan aims to remove incentives for companies to shift investments and profit abroad and raise more money for critical needs at home.

The challenge for legislators will be to minimize loopholes that could diminish the impact.

Three top Senate Democrats released a proposal to overhaul the U.S. international tax system that could shape the outcome of the global tax revamp that the White House is pursuing to fund infrastructure spending.

The Treasury secretary outlined the case for a harmonized corporate tax rate across the world’s major economies.

Treasury Secretary Janet Yellen will argue Monday for a global minimum tax rate for companies as she pushes President Joe Biden’s plans to raise levies on U.S. companies, a person familiar with her remarks said.

The corporate tax-cut party President Donald Trump kicked off will soon be over if his successor proves able to enact proposals to roll back half of the 2017 domestic income-tax reduction and to radically revamp levies on profits earned abroad.