By John Leer
July 12, 2021 at 8:49 pm ET
Adults across the 15 largest global economies view corporate taxation extremely differently, reflecting countries’ histories and cultural norms in terms of the role of private enterprise in driving sustainable and inclusive economic growth.
Support for increasing corporate taxes does not clearly correspond to existing corporate tax rates. In India, where corporate taxes are high, almost half of survey respondents strongly approve of corporations paying more in taxes. On the other hand, in the United States where corporate taxes are relatively low, a relatively large share of adults (65%) also believe companies should pay more in taxes.
Statutory and effective tax rates in all 15 countries included in this survey comfortably exceed the 15% minimum contemplated by the current proposal, meaning that corporate taxes in these countries are unlikely to materially change if the draft agreement is signed into law in all of these countries.
If negotiating parties decide to increase the proposed minimum tax rate to 20%, the United Kingdom would be obligated to increase its corporate tax rate, and 66% of UK residents agree that corporations should pay more in taxes, the fourth highest value across the 15 largest economies.