Japan Signals Support for Biden’s Proposed Global Minimum Tax

Logo: Bloomberg Law

By Kazuhiko Shimizu

Japan is prepared to back President Joe Biden’s plan for overhauling the taxation of multinational companies as long as there is agreement on a global corporate minimum tax. The White House has proposed reshaping a global plan so that about 100 of the world’s biggest companies pay more taxes in the countries where they sell their goods and services. Japanese tax experts say the minimum corporate tax would boost government revenue at a time when Tokyo is concerned about its national debt. And Biden’s backing provides political cover for Prime Minister Yoshihide Suga—as does the fact that analysts expect few Japanese companies to number among that top 100. 

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By Kazuhiko Shimizu, posted on Thursday April 29, 2021

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