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- U.S. Treasury Secretary tells Mexican counterpart G20 countries should back global minimum tax
U.S. Treasury Secretary tells Mexican counterpart G20 countries should back global minimum tax
Reuters reports that the Treasury said in a statement that U.S. Treasury Secretary Janet Yellen met with Mexican finance minister Arturo Herrera, stressing the importance of securing support from the Group of 20 major economies for a proposed global minimum tax .
Yellen, whose proposal for a global minimum tax of at least 15% has won the backing of the Group of Seven advanced economies, is now urging G20 countries - including Mexico and China - to support the plan when they meet in Venice in July.
Yellen told U.S. lawmakers that Washington would not agree to any type of special treatment for China or other countries that would weaken a global minimum tax regime.
G7 finance officials on June 5 agreed to support a minimum corporate tax rate of at least 15%, a move endorsed by G7 leaders on Sunday.
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