The United States calls other countries to introduce a single minimum tax for business

US Treasury Secretary Janet Yellen on Tuesday will call on the countries of the world to introduce a minimum global threshold for corporate taxes, writes Axios portal, citing excerpts from Yellen's speech. She will deliver the first program address in the new rank. The official entered the administration with the arrival of Joe Biden in the White House, and before that headed the Federal Reserve System.

As Axios has learned, the US is already negotiating taxes with the G20 countries, including Russia, to "stop the rate cut race."

According to Yellen, competition should not only be about pitting US-registered companies against others, but also about ensuring stable tax systems so that governments get enough money and invest it in public goods. It is important that all citizens "fairly share the burden of government funding," Axios was quoted as saying by Yellen.

If you can convince other countries to introduce a minimum global corporate tax, the likelihood of companies moving from the United States to offshore will decrease, Axios said. This is an urgent question, given that the new economic plan of US President Joe Biden implies an increase in the US corporate tax by a third - from the current 21% to 28%. Bloomberg called the tax increase the most significant in the United States since Bill Clinton. It is needed to fund the Biden program for $ 2.25 trillion. Until 2017, the tax was 35%, but then the previous US President Donald Trump lowered it by 14 percentage points.