Joe Biden wants to overhaul global tax rules. Ireland stands in the way
CNN
One of President Joe Biden's priorities is a historic overhaul of global tax rules. The world's most powerful 20 economies are on board. But an island nation of 5 million people is standing in the way.
Biden still needs Ireland. For years, the country has successfully attracted hordes of global businesses with a corporate tax rate of just 12.5%, compared to 21% in the United States and 19% in the United Kingdom. Facebook (FB), Google (GOOGL) and Apple (AAPL) have set up regional headquarters in the country, while pharmaceutical companies like Pfizer (PFE) have built manufacturing hubs.
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