After meeting with European finance ministers in Brussels, the US Treasury Secretary expressed optimism about the EU’s resistance to global tax treaties.
Janet Yellen said her feeling is that EU countries that have so far refused to sign the agreement reached this month “hope to find a way to reach agreement.” When the OECD finalized the agreement, Ireland, Hungary, and Estonia were among the eight countries in the world that refused to sign.
“My message is that this is a historic agreement, which is very in the interest of all countries. It is important that everyone work hard to join,” she said at a roundtable meeting with reporters, noting that there are several To resolve the individual concerns of various countries in the past few months.
“There are still some details to be resolved,” she added.
Yellen welcomes the European Union’s decision to postpone its proposed digital taxation until the fall, rather than propose it next week as previously planned. She said the delay will allow extra time to determine what is and what is not allowed in the agreement.
“This is a delicate period in the U.S. negotiations. It avoids investing in some ambiguities in the negotiations and may complicate our progress,” the Treasury Secretary said.