Rishi Sunak fails to back Joe Biden plan for global minimum on corporation tax
- Date: 17-May-2021
- Source: The National
- Sector:Economy
- Country:Saudi Arabia
Rishi Sunak fails to back Joe Biden plan for global minimum on corporation tax
Britain’s Chancellor of the Exchequer Rishi Sunak is yet to back US President Joe Biden’s plan for a global minimum business tax rate of 21 per cent, as the UK pushes for a fairer way to tax the digital economy.
Mr Sunak is concerned the rate may be too high in the long term, despite the UK’s pledge to increase corporation tax to 25 per cent in 2023 to help Britain’s coronavirus-ravaged economy recover.
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