Minister Yellen Urges G20 to Support the Tax Plan

US Treasury Secretary Janet Yellen urges the G20 to support the global minimum tax rate of 15 percent.

 

A summit of G20 finance ministers and central bank governors will occur next month in Venice, Italy, where that tax plan will be high on the agenda.

Yellen met in Washington with her Mexican colleague Arturo Herrera. Mexico is part of the G20, the group of nineteen major industrialized countries and the European Union.

China is also a member of the G20. That country recently said that there should be a practical approach to that tax plan, taking into account the wishes and apprehensions of all parties.

Yellen has said the United States would not agree to any form of special treatment for China or other countries that would weaken the tax plan.

The G7, a group of seven rich countries including the US and Germany, has already reached an outline contract on a global minimum tax for companies.

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