Saleha Mohsin

The club of rich nations secured a landmark deal that could help them collect more taxes and impose levies on U.S. tech giants such as Amazon and Facebook.

Group of Seven governments are nearing a deal to pursue a minimum corporate tax rate of at least 15% in international negotiations, but remain at odds over how to treat global technology companies.

Treasury Secretary Janet Yellen’s team has proposed a 15% global minimum corporate tax in international negotiations aimed at ending competition to lure companies through cheap rates, which then end up eroding government revenues.

A U.S.-driven effort to reach a global accord on taxing big tech companies’ overseas profits is getting bogged down over ensnaring one company in particular.

The Treasury secretary outlined the case for a harmonized corporate tax rate across the world’s major economies.

The Internal Revenue Service’s delay of the April 15 tax-filing deadline to May 17 gives taxpayers an additional month to file returns and pay any outstanding levies.

Treasury Secretary Janet Yellen added an international tax policy expert to her staff as the U.S. reverses a Trump-era stance over digital taxation of technology companies.

The U.S. has dropped a key demand in negotiations over digital taxation of technology companies such as Alphabet Inc.’s Google and Facebook Inc., lifting a barrier that had raised transatlantic trade tensions and prevented an international deal.

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.

Janet Yellen won confirmation to become U.S. Treasury secretary, building out President Joe Biden’s team as the administration struggles to win bipartisan support for a $1.9 trillion COVID-19 relief plan for shoring up a weakening economic recovery.