US Senators proposed to introduce minimal tax for large companies that can bring hundreds of billions of dollars a budget. Corporations will be required to pay at least 15 percent of profits if more than one billion dollars earned, reports Bloomberg.
Receipts from the new tax can range from 300 to 400 billion dollars for 10 years. The proposal is considered as another source for financing the US President Joe Bayden. Now the usual tax rate for corporations is 21 percent. To this level, it was reduced during the presidency of Donald Trump. Lazakes in the form of benefits allow companies to lower the bet to a much lower. Democrats wanted to increase the tax rate to 28 percent, but in the end they decided to offer 15 percent minimum income tax as a compromise. If the initiative is adopted, the company will no longer be able to reduce the rate below 15 percent.
The co-author of the reform Elizabeth Warren stated that the tax was aimed primarily at large corporations, which are seen from payments with the help of benefits. “This is actually a tax for companies such as Amazon, who report to their shareholders and the public about profit of $ 10 billion, establish a salary to the Director-General, and then rotate to the tax administration, say” hello “and thanks to the loopholes they can pay anything in the form of taxes, “Senator said.
Attempts to reform the tax system are dissatisfied with large companies and billionaires who will have to pay more. In October, it became known that the leading international Corporations of the United States had developed a counteraction strategy to the Economic Bill, which was offered by the US President Joe Bayden. Companies such as Apple, Amazon, Microsoft and Disney intend through lobby groups to impede tax raising.