Powerful States Push Tax Race to the Bottom

Credit: Bantonglaoatang
By Anis Chowdhury and Jomo Kwame SundaramSYDNEY and KUALA LUMPUR, Jun 15 2021 (IPS)
Last week, the largest rich countries, home to most major transnational corporations (TNCs), agreed to a global minimum corporate income tax (GMCIT) rate. But the low rate proposed and other features will deprive developing countries of their just due yet again.
New race to bottom
On 5…