Biden's tax proposal hits a snag

By Agence France-Presse

May 27, 2021 1:26 am

DELAWARE: US President Joe Biden's push to get major economies to agree on a 15-percent minimum tax rate for multinational corporations has hit turbulence after Ireland's finance minister expressed 'significant reservations' about the plan.

The objection from Dublin's Finance Minister Paschal Donohoe on Tuesday carries weight because Ireland hosts an outsized number of technology and pharmaceutical firms that were attracted to the country for its lower tax rate.

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