U.S. Treasury Proposes 15% Minimum Tax for Large Corporations

The U.S. Treasury has proposed a new rule requiring large corporations to pay a minimum tax of 15%. This proposal targets companies with annual profits exceeding $1 billion and aims to generate $250 billion over the next decade through increased revenue. The initiative, spearheaded by the U.S. Department of the Treasury and the IRS, establishes a “Corporate Alternative Minimum Tax” framework to address corporate tax avoidance, ensuring larger corporations contribute fairly to public revenue.