Yellen Discusses Global Tax Reform In Call With French Finance Minister - Treasury

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Yellen Discusses Global Tax Reform in Call with French Finance Minister - Treasury

WASHINGTON (UrduPoint News / Sputnik - 25th September, 2021) US Treasury Secretary Janet Yellen held a call with France's Minister of Finance, Economy and Recovery Bruno Le Maire on Friday to discuss international tax reforms and the need for global cooperation to mitigate adversities to economic recovery, the Treasury Department said.

In the call with Le Maire, Yellen expressed Washington's support for ongoing efforts to improve the global tax system and the importance of reaching a compromise on the withdrawal of digital services taxes, the department said in a statement.

"She also discussed with Finance Minister Le Maire the need for continued cooperation between the US, France, and other G20 members to enhance support for low-income countries to mitigate further divergence in the global economic recovery," the statement added.

The US-France talks came after a virtual meeting held by Yellen last week with finance ministers from the G7 countries, where she supported efforts by international fiscal authorities to revamp and make the global tax system more equitable.

The G7 agreed in June to impose a global minimum tax on corporate foreign earnings. The pact was later supported by 134 countries representing more than 90 percent of the world's gross domestic product.

Yellen held a similar call with Italian Economic and Finance Minister Daniele Franco earlier this week to discuss global tax reforms.

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