The U.S. Treasury Department unveiled a new policy proposal to ensure the 15 percent global corporate minimum tax is properly instituted.   As part of President Joe Biden’s $5.8 trillion 2023 budget documents published Monday, the Treasury put forward the new Undertaxed Profits Rule (pdf). This would replace the present U.S. Base Erosion Anti-Abuse Tax, or BEAT.   Under the new scheme, the federal government would install a “top-up tax” that makes certain multi-national corporations pay an effective tax rate of 15 percent and conform to the Organisation of Economic Cooperation and Development’s (OECD) standards agreed to last year.   The policy instrument would generate additional revenue since it would reject deductions for taxes paid in areas with lower rates, almost guaranteeing that they face the minimum levy. The administration’s budget projects that it would raise $239 billion over a decade.   “The higher tax rate and expanded base would …