U.S. Treasury Secretary Janet Yellen told G20 finance ministers that Washington would drop a controversial part of the plan, which was tabled by the Trump administration in late 2019, known as the “safe haven”. The “safe port” is to give digital giants the choice between voluntarily accepting the new tax regime or continuing with the current system.
France immediately welcomed the US change, deciding that a deal was “achievable” and possible in the summer. It is now necessary to “conclude the talks” without delay, French Finance Minister Bruno Le Myre stressed in a statement. Discussions on the project are taking place within the framework of the Organization for Economic Co-operation and Development (OECD).
German Finance Minister Olaf Scholes said Washington’s abandonment of so-called “safe havens” was “a major step on our path to an agreement by the end of the summer.” G20-Finance Meeting. The head of the Treasury said Janet Yellen had also announced that Washington would “firmly pledge to the two pillars of the plan” of international tax reform.
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