ecoming a reality.
The idea has been promoted by the Organization for Economic Co-operation and Development but received a fresh boost this week when US Treasury Secretary Janet Yellen said she would push for an agreement among the advanced economies in the G20. However, Yellen has said it would be best to couple a US rate increase with the establishment of a global minimum tax to end the ”race to the bottom” among countries to see who implements the lowest rate.
”The support of the USA gives this initiative a strong tailwind,” Scholz said, adding he hoped a deal could be reached this year. Speaking at the start of the spring meetings of the IMF and World Bank, she underscored the ”large amount” of tax avoidance and ”countries sending money to tax havens.”
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