Daily Tax Report ®

Yellen Talks Digital Taxes With U.K., Germany Finance Chiefs (1)

Jan. 28, 2021, 12:40 AM

U.S. Treasury Secretary Janet Yellen on Wednesday talked with her U.K. and German counterparts about resolving mushrooming disputes over the taxation of internet giants such as Facebook Inc., highlighting the issue as a priority in her initial bilateral calls.

Yellen and U.K. Chancellor of the Exchequer Rishi Sunak “discussed the need to find multilateral solutions to many of the issues facing the global economy, including addressing the tax challenges of efficiently and equitably taxing the income of multinational firms,” according to a U.S. Treasury statement on Wednesday.

The U.K. Treasury, in its statement, said the pair discussed seeking a “global...

To read the full article log in. To learn more about a subscription click here.