** People rescuing an injured passenger from inside a passenger bus hit by a truck on Dhaka-Mawa Expressway in Shologhar area of Shreenagar upazila in Munshiganj on Thursday. ** Motorcycles allowed on Padma Bridge after 10 months ** Commuters charge extra fare, passengers disappointed ** 78 people killed in Yemen stampede ** Moon sighting committee meets today to ascertain Eid day ** 9 killed in road accidents in 3 districts ** US announces new $325 m military aid package for Ukraine ** Eid-ul-Fitr in Saudi Arabia today ** Eid exodus begins ** LPG price cut illusive ** 15 hurt as bus overturns in capital ** New interbank cheque clearing timings set for Eid holidays ** Four women hit by a train die in Tangail ** 12.28 lakh SIM users left Dhaka on Tuesday ** Sylhet engineer threatened over power outage ** People rush to village homes to spend Eid holidays with their near and dear ones. This photo was taken from Sadarghat Launch Terminal on Tuesday. NN photo ** Surge in cases of dehydration, diarrhoea amid summer heat wave ** Padma Bridge construction cost increases by Tk 2,412cr ** PM gives Tk 90m to Bangabazar fire victims ** Textile workers block highway demanding wage, Eid bonus ** Attack on PM's motorcade Ex-BNP MP, 3 others get life term ** Load-shedding increases for demand of electricity during heat wave ** Motorbikes to be allowed on Padma bridge from Thursday ** 5-day Eid vacation begins from today ** Take Nangalkot train accident as a warning about negligence of govt functionaries **

US Treasury backs global minimum corporate tax of at least 15pc

22 May 2021 AFP, Washington

The US Treasury on Thursday called for the establishment of a global minimum corporate tax of at least 15 percent in negotiations with the Organization for Economic Cooperation and Development and G20.
"Treasury proposed… that that the global minimum tax rate should be at least 15 percent. Treasury underscored that 15 percent is a floor and that discussions should continue to be ambitious and push that rate higher," according to a statement from the department.
US President Joe Biden's administration in April backed working out an agreement with major economies on imposing a shared minimum corporate tax, aiming to end competition to offer corporations the lowest rate and the sapping of government revenues.
Washington's support came as Biden proposed a massive $2 trillion domestic infrastructure and jobs program financed in part by hiking corporate taxes.

The German and French finance ministers in a joint interview later that month said their countries would support a minimum tax rate of as high as 21 percent. The European Parliament also passed a non-binding resolution in support of that rate.

The US Treasury said the 15 percent rate came after two days of negotiations with a G20 and OECD steering group during which "discussions on the global corporate minimum tax rate began in earnest."

"Treasury reiterated that with the global corporate minimum tax functionally set at zero today, there has been a race to the bottom on corporate taxes, undermining the United States' and other countries' ability to raise the revenue needed to make critical investments," the statement said

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