Yellen: US negotiating R&D tax credit as part of global tax deal

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Cineplex shuts its doors in Bridgewater | SaltWire #novascotia #cineplex #bridgewater #closureWASHINGTON - Treasury Secretary Janet Yellen said on Tuesday that the United States is in talks with other countries to carve out an allowance for the U.S. research and development tax credit as part of the 15% global minimum tax deal.

Yellen rejected repeated accusations from Republican Congress members that the global minimum tax would put American companies at a disadvantage and said that over the long term, adoption of both pillars of the OECD deal would likely be slightly revenue positive, while reducing distortions.

 

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