US aims for global tax deal to target fewer than 100 companies

<div id=”js-article__body” itemprop=”articleBody” data-sbid=”WP-MKTW-0000226248″>

The Biden administration offered new proposals on taxing multinational companies in a bid to secure an international agreement aimed at reducing tax avoidance, particularly by large pharmaceutical and technology companies. The administration is seeking to limit the number of companies that would be included in a deal that would address the challenge of taxing income whose location is difficult to confirm. The United States now suggests a brilliant line approach based on the size and profits of the companies, rather than the characteristics of the companies.