*** G20: Ongoing Ministers and Governors Summit, Italy aims for an Internet tax agreement

Yellen opens in an open letter to the participants (Il Sole 24 Ore Radiocor Plus) – ROME, February 26 – Economy Minister Daniel Franco will open the first meeting of G20 finance ministers and central bank governors in about half an hour, the Forum of Major World Economies, for the first time under Italian presidency . The summit marked the international start of the new Biden administration, as Treasury Secretary Janet Yellen returned to the talk of multilateralism. On the agenda, according to what has been learned, is the sensitive point of discussion about web tax and minimum corporate taxes. The Italian presidency aims to reach an agreement following the work of the Saudi presidency that preceded it. There is a commitment to close by 2021 and the result will be historic. There are opportunities, according to the sources consulted, following the opening made by Yellen in the letter he sent yesterday to the G20 countries and posted on the website of the US Treasury. “The United States – writes the former Federal Reserve chief – is engaging in multilateral discussions on both pillars within the overall OECD-G20 framework, overcoming existing differences and seeking practical solutions in a fair and wise manner.” Yellin notes the work done at the headquarters of the Organization for Economic Cooperation and Development where negotiations have been going on for several years. Strong web taxes were also paid in the G7, particularly by the French presidency in 2019, but Europeans’ attempts to tax the large Internet and multinational corporations with tax-improving practices (dumping) have always been frustrated. By resolute opposition to the Trump administration.

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(RADIOCOR) 26-02-21 12:00:00 (0321) 3NNNN