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  • Remarks By US Secretary Of The Treasury Janet L. Yellen Following The Close Of The G7 Finance Ministers Meetings

    Date 05/06/2021

    Thank you for joining us today.

    I would like to thank Chancellor Sunak and Her Majesty’s government for hosting.

  • G7 Finance Ministers & Central Bank Governors Communiqué, 5 June 2021, London, United Kingdom

    Date 05/06/2021

    We, the Finance Ministers and Central Bank Governors of the G7, met virtually on 28 May 2021, and Finance Ministers met in London on 4-5 June 2021, joined by the Heads of the International Monetary Fund (IMF), World Bank Group, Organisation for Economic Cooperation and Development (OECD), Eurogroup, and (on 28 May) Financial Stability Board (FSB). We agreed concrete actions to address today’s historic challenges and as part of our renewed and urgent effort towards deeper multilateral economic cooperation.

  • G7 Finance Ministers Agree Historic Global Tax Agreement

    Date 05/06/2021

    • G7 Finance ministers strike seismic agreement on global tax reform that will mean the largest multinational tech giants will pay their fair share of tax in the countries in which they operate.
    • Following two-days of talks chaired by Chancellor Rishi Sunak in London, counterparts agree to reforms which will see multinationals paying tax in the countries where they do business;
    • As part of landmark deal, finance ministers also agree to the principle of a global minimum rate that ensures multinationals pay tax of at least 15% in each country they operate;
    • Nations also agree to follow UK lead in making climate reporting mandatory, and agree measures to crack down on the proceeds of environmental crimes.

  • Statement From US Secretary Of The Treasury Janet L. Yellen On G7 Finance Ministers’ Commitment To Global Minimum Tax

    Date 05/06/2021

    The G7 Finance Ministers have made a significant, unprecedented commitment today that provides tremendous momentum towards achieving a robust global minimum tax at a rate of at least 15%. That global minimum tax would end the race-to-the-bottom in corporate taxation, and ensure fairness for the middle class and working people in the U.S. and around the world. The global minimum tax would also help the global economy thrive, by leveling the playing field for businesses and encouraging countries to compete on positive bases, such as educating and training our work forces and investing in research and development and infrastructure.

  • Readout: US Deputy Secretary Of The Treasury Wally Adeyemo’s Call With European Commission Executive Vice-President And Commissioner For Trade, Valdis Dombrovskis

    Date 04/06/2021

    Earlier today, Deputy Secretary of the Treasury Wally Adeyemo spoke with European Commission Executive Vice-President and Commissioner for Trade, Valdis Dombrovskis. Deputy Secretary Adeyemo reaffirmed the importance of transatlantic cooperation and coordination on a wide range of issues. They discussed international taxation, sanctions policy, investment security, U.S.-EU cross border data flows, combating corruption, and anti-money laundering reform and implementation. The Deputy Secretary welcomed the shared goal between the United States and European Union to make the international tax system more fair and end the global race to the bottom on corporate taxes.

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