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Biden global tax proposal faces setback after Ireland objects

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AFP

Washington (AFP) – 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.  “We do have really significant reservations regarding a global minimum effective tax rate status at such a level that it me…

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