Historic But Inadequate: Joseph Stiglitz on G7 Deal to Back a 15% Global Minimum Corporate Tax Rate

Finance ministers from seven of the world’s wealthiest nations have backed a plan to set a minimum global corporate tax rate of at least 15% on multinational companies. The agreement, which was reached during a meeting in Britain of the G7, or Group of 7, is “historic” but should have aimed higher, says economist Joseph Stiglitz. “If you have too low of a tax rate, that minimum tax becomes, de facto, the maximum tax,” he says.

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Finance ministers from seven of the world’s wealthiest nations have backed a plan to set a minimum global corporate tax rate of at least 15% on multinational companies. The agreement, which was reached during a meeting in Britain of the G7, or Group of 7, is “historic” but should have aimed higher, says economist Joseph Stiglitz. “If you have too low of a tax rate, that minimum tax becomes, de facto, the maximum tax,” he says.


This content originally appeared on Democracy Now! and was authored by Democracy Now!.


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» Historic But Inadequate: Joseph Stiglitz on G7 Deal to Back a 15% Global Minimum Corporate Tax Rate | Democracy Now! | Radio Free | https://www.radiofree.org/2021/06/07/historic-but-inadequate-joseph-stiglitz-on-g7-deal-to-back-a-15-global-minimum-corporate-tax-rate/ | 2022-01-24T13:35:43+00:00
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