G20 finance officials to meet on pandemic measures, U.S. global minimum tax plan
Finance officials from the Group of 20 major economies are poised to back a $650 billion boost in the IMF’s emergency reserves on Wednesday and extend a freeze on debt payments as part of an effort to help developing countries still struggling to combat the COVID-19 pandemic.
Taxes will also be a key item on the G20 agenda after Yellen this week pledged to work on a global corporate minimum tax rate, which Germany and France said could ease the way to reaching a landmark deal by mid-year.
Negotiators are racing to reach agreement among more than 140 countries for updating the rules for taxation of cross-border commerce for the first time in a generation.
It was unclear what progress G20 finance leaders may be able to make in tax discussions on Wednesday.
Reference: Reuters
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