EU looks for global tax pact by June

2021-04-07 01:24:54

NEW DELHI: European Union (EU) officials are looking to wrap up a global agreement to harmonise corporate taxes and impose more effective levies on internet giants by the end of June following an appeal from the US.
A French finance ministry official said US Treasury Secretary Janet Yellen’s appeal for a global minimum tax rate for companies was very positive and Paolo Gentiloni, the EU commissioner for economic affairs, raised the prospect of a breakthrough by the summer.
Tax harmonisation will be discussed at an online meeting of G20 FMs and central bankers on Wednesday.
Yellen outlined the case for a harmonised corporate tax rate and new digital levies across the world’s major economies in her first major speech on international economic policy since taking up her post in US President Joe Biden’s administration.

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