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Path to Global Tax Deal Tough Even With U.S. Softening Demands

Feb. 26, 2021, 7:59 PM

The U.S. decision to set aside a roadblock to a deal to overhaul global tax rules earned praise from policymakers Friday, but countries still have to address a number of key issues before agreement can be reached midyear.

The U.S. plan, first proposed by former Treasury Secretary Steven Mnuchin, demanded that part of an OECD-led effort to change where and how multinational companies are taxed globally be optional. The U.S. call for a “safe harbor” was so internationally unpopular it had created an impasse in the talks.

But news that Treasury Secretary Janet Yellen was dropping the plan could help...

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