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About: http://data.cimple.eu/news-article/9d04b7afb44684d4f499cfe9144c941737d604fc2f69c7155ca75b3d Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	German Finance Minister Olaf Scholz on Tuesday welcomed Washington's backing for a global minimum corporate tax, calling it a "great step forward" in the battle to stem the erosion of government revenues. "The support of the USA gives this initiative a strong tailwind," Scholz told reporters, saying he hoped a deal could be reached this year. The optimism comes a day after US Treasury Secretary Janet Yellen said Washington was pushing in the G20 for a global minimum corporate tax, saying the world's interconnected economy had led to "a 30-year race to the bottom on corporate tax rates." "Together we can use a global minimum tax to make sure the global economy thrives based on a more level playing field in the taxation of multinational corporations," she said in a speech to the Chicago Council on Global Affairs. Finance ministers of the G20 club of large economies are expected to discuss the proposal during a virtual meeting on Wednesday, hosted by Italy. A Treasury official told reporters the G20 goal is to have a proposal on the global minimum tax by July, and President Joe Biden's administration could if needed change its legislation to bring the US minimum tax into line with the international plan. A G20 agreement would give a push to ongoing negotiations in the broader Organisation for Economic Co-operation and Development (OECD) on a global minimum tax as a way to protect all members from erosion of tax revenues. "I am confident that with this corporate taxation effort we can end the race to the bottom," Scholz said, calling Yellen's backing "a great step forward". "It's now realistic that we could reach an agreement this year," he added. bur-mfp/lth
schema:headline	Germany hails US move on corporate tax as 'great step forward'
schema:mentions	United States Secretary of the Treasury Johann Martin Augustin Scholz Erosion Kingdom of Italy Finance minister Corporate tax Olaf Scholz Nazi Germany G20 OECD Chicago Joe Biden United States President of the United States Janet Yellen Headwind and tailwind Maxima and minima
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2021-04-06 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	positive sentiment
http://data.cimple...readability_score	92 (xsd:integer)
http://data.cimple...tology#hasEmotion	happiness

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