Are IFCs Collateral Damage? The Global Minimum Tax And Its Impact

According to an article in the Associated Press earlier this year, between 1985 and 2018 the worldwide average corporate statutory rate of tax fell from 49 per cent to 24 per cent, causing policy makers, including US Treasury Secretary Janet Yellen, to dub this trend “a race to the bottom”.[i]

Bermuda: Minimum Tax, Major Op…