Biden, Johnson commit to a global minimum tax of at least 15%

The whole international tax framework is changing because US cannot implement proper CFC tax legislation. No EU based multinational comes anywhere the 0% corporate tax that US multinationals can get. Thats because the EU countries anti avoidance rules generally catch such setups.

It doesn't matter what percentage Corporations are mandated to pay, they don't pay taxes. Taxes are a cost of doing business and are reflected in the price of the goods and services sold, just like all expenses, it's passed on to the consumer in the form of higher prices and then paid out to the Government. For the Business it's a net zero. If the taxes are raised, the price goes up. The consumer pays the taxes. It's a scam, a bait and switch by politicians to get more revenue. Corporations shouldn't be in the tax system.

While SME pays more than 19% while these tax dodging big american firms pay 15%, usually 0%.....wow just wow

Is this phase 1 or 2? Oh wait wrong topic.