New Proposal to Combat Corporate Tax Avoidance Could Reclaim Billions
The article suggests implementing a minimum global effective corporate tax rate to combat international corporate tax avoidance. If a US multinational's global tax rate falls below 15%, they would need to pay the IRS the difference. The proposal also includes an exit tax to prevent corporate inversions and calls for strengthening international tax norms. This approach aims to address the issue of tax avoidance comprehensively and efficiently.