President Biden wins global support for massive tax overhaul
CNN
The United States has won international backing for its plan to overhaul the global system for taxing companies, a huge step toward simplifying a complex web of rules long exploited by big corporations.
Countries including India, China and Switzerland have agreed to a broad framework for reform set out by the Organization for Economic Cooperation and Development. The Paris-based group said Thursday that 130 countries and jurisdictions were on board, representing more than 90% of global economic output. In a statement, US Treasury Secretary Janet Yellen called the agreement a "historic day for economic diplomacy." Yellen secured the support of the Group of Seven nations, including Canada, France, Japan, Germany, Italy and the United Kingdom, last month.
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