Tax rates

The average effective tax rate of profitable large corporations fell from 16% in 2014 to 9% in 2018 after passage of the Tax Cuts and Jobs Act of 2017.

The long-term decline in the number of Fortune Global 500 companies headquartered in the U.S. occurred amid a trend of lower statutory corporate income tax rates outside the U.S.

According to data released by the OECD, the average combined statutory tax rate in its sample of over 160 countries was unchanged at 20% this year.

The Internal Revenue Service has raised tax brackets and the standard deduction by about 7% for 2023 as the soaring cost of food, energy and housing continues to batter Americans.

The highest inflation rate in decades is likely to produce major increases on some tax items, according to predictions from Bloomberg Tax.

The introduction of a minimum tax will affect a type of divestiture that up to now has gone untaxed.

The Treasury Secretary outlined some of the Biden administration's unfinished economic business in a speech.

A group of European Union countries is considering new ways of implementing a global deal for a 15% minimum tax on large multinationals in 2023 as Hungary continues to veto a joint solution for the bloc.

The bill would force the rich to declare their assets at current value, unlike the old law, which allowed them to report assets at their original purchase price.

About $222.2 billion of the increase on businesses will come from a new corporate minimum tax that requires companies with at least $1 billion in profits to pay a minimum of 15%.