U.S. Treasury’s Yellen calls for global minimum corporate tax – Reuters

SourceReuters
SectorFinancial Markets
CountrySaudi Arabia

FILE PHOTO: U.S. Treasury Secretary Janet Yellen attends an economic briefing with U.S. President Joe Biden in the Roosevelt Room at the White House in Washington, U.S., March 5, 2021. REUTERS/Tom Brenner/File PhotoWASHINGTON (Reuters) - U.S.

Treasury Secretary Janet Yellen said on Monday that she is working with G20 countries to agree on a global corporate minimum tax rate to end a “30-year race to the bottom on corporate tax rates.”In prepared remarks to the Chicago Council on Global Affairs, Yellen said she also would use her participation in International Monetary Fund and World Bank annual meetings this week to advance discussions on climate change, improve vaccine access and encourage countries to support a strong global recovery.Yellen said it was important to make sure governments “have stable tax systems that raise sufficient revenues in essential public goods and respond to crises, and that all citizens fairly share the burden of financing government.”Separately, a U.S. Treasury official told reporters that it...read more...