February 27, 2021

US drops key obstacle to global digital tax: Treasury

US drops key obstacle to global digital tax: Treasury 1

US Treasury Secretary Janet Yellen told her G20 colleagues Friday that Washington is dropping a push for a controversial provision in a global digital tax, opening the door to a likely agreement.The US shift — part of a broader repositioning by President Joe Biden from the “America First” agenda of former President Donald Trump — prompted immediate praise from Germany and France, which said a deal was now “within reach” following the US pivot.Yellen announced at the G20 finance ministers meeting that US officials “will engage robustly” in the talks and “is no longer advocating for ‘safe harbor' implementation of Pillar 1,” a Treasury official told AFP.

Source: US drops key obstacle to global digital tax: Treasury

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