The Biden Administration has been negotiating with world leaders to implement a global tax regime aimed at imposing a minimum threshold in corporation tax amongst the worlds largest economies. The UK Treasury is reportedly holding out against an agreement.

Commenting on the story in The Telegraph, IEA Economics Fellow Julian Jessop argued taxing firms by where revenues are generated could turn into a “bureaucratic nightmare“, adding “If the global minimum tax rate is too high, it would undermine healthy tax competition between countries.”

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