WARSAW, May 16 — There was no breakthrough in talks with Poland over the European Union’s plans to implement a 15 per cent global corporate minimum tax, US Treasury Secretary Janet Yellen said today, although she described the talks as “good” and “frank.”
Poland’s new finance minister, Magdalena Rzeczkowska, has sought a “legally binding” link between the global minimum tax and the other pillar of tax negotiations — a reallocation of some taxing rights for large, highly profitable multinationals to “market countries” where their services and products are sold.
French Finance Minister Bruno Le Maire, current chair of EU finance ministers, has expressed scepticism over those arguments amid legal disputes between Poland and the EU.Yellen met Polish Prime Minister Mateusz Morawiecki as well as Rzeczkowska and central bank governor Adam Glapinski. Yellen told reporters there were questions about how to analyse what the likely impact of Pillar 2 would be on Poland’s revenues.
A statement from the prime minister’s office made no mention of the tax deal but focused on coordinating international efforts to put pressure on Russia to end its war in Ukraine and reducing dependence on Russian energy. The changes were initially included in US President Joe Biden’s sweeping social and climate spending bill, which stalled last year after objections from centrist Senate Democrats.
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