IMF officials endorse Biden's corporate tax hike, global minimum plan

WASHINGTON (Reuters) – International Monetary Fund officials on Wednesday endorsed U.S. President Joe Biden’s plan to raise corporate income taxes and negotiate a global minimum tax, adding that companies and wealthy individuals that have prospered during the pandemic can afford to pay more.

“The IMF has been calling for a minimum global corporate income tax rate as a way to interrupt the race to the bottom in corporate income taxation,” IMF Fiscal Affairs Director Vitor Gaspar told a news conference. “And that is something which is important to ensure that governments have the resources needed to the various spending priorities that they have to serve.”

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