The United States is hopeful that Ireland will drop its resistance to joining the global tax agreement that it is brokering, as Treasury Secretary Janet L. Yellen made the case to her Irish counterpart this week that it is in its economic interests to join the deal. The discussion with Ireland came during a weeklong trip to Europe, where Ms. Yellen worked to gather more support for a global plan that is intended to put an end to tax havens and curb profit shifting with a new global minimum tax. The agreement, which gained the support of the Group of 20 nations on Saturday, would usher in a global minimum tax of at least 15 percent. “For Ireland, low taxes has been an economic strategy that has been incredibly successful,” Ms. Yellen said in an interview ahead of her return to Washington. Ms. Yellen needs Mr. Donohoe’s support because the European Union requires unanimity among its members to formally join the deal that will require changes to domestic tax laws.

Source: International New York Times July 13, 2021 11:15 UTC