US sees global tax agreement as beneficial for all

G20 economies are acting to stop multinational companies moving to countries with low taxation rates.

Janet Yellen at the finance ministers and central bankers meeting in Venice, Italy, 2021. | Photo: Andreas Solaro/AFP / AFP

A global tax agreement would benefit all governments and help increase incomes from taxation, as it would put an end to the race to the bottom, says US Finance Minister Janet Yellen at a G20 press conference in Venice, Italy.

Yellen adds that getting all countries to agree to the deal is not crucial, but that they will still try to convince skeptical countries to get on board over the coming months.

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