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Global Corporate Taxes Face ‘Revolution’ After U.S. Shift (2)

April 9, 2021, 2:56 PM

A surprise U.S. drive to overhaul international corporate taxation promises a new era for governments to capture a bigger tax take from some of the most successful global businesses -- if only the rest of the world can agree.

Welcoming noises in Europe to Treasury Secretary Janet Yellen’s proposals suggest a good start in shifting what’s been a years-long impasse among more than 135 countries over harmonizing corporate taxes. At stake is shoring up cash-strapped finance ministries bankrolling massive Covid-19 crisis spending.

Representatives leading the negotiations, led by the Organization for Economic Cooperation and Development, said this week they ...