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© Reuters. File photo: US Secretary of the Treasury Janet Yellen answers questions at the Senate Appropriations Subcommittee hearing to review the 22nd fiscal year budget application for the Treasury Department on Capitol Hill in Washington, DC, on June 23, 2021. Greg Nash/Pool
VENICE (Reuters)-US Treasury Secretary Janet Yellen said on Sunday that a new mechanism that allows more countries to tax large, high-profit multinational companies may not be considered by lawmakers until the spring of 2022.
Yellen said at a press conference after the G20 Financial Leaders’ Meeting in Venice, Italy, that the redistribution of the OECD’s “first pillar” tax power is on a “slow track” than the redistribution of at least 15% of the global corporate minimum tax. “A major tax treaty among the 132 countries.
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