The ITPF News Blog is managed by the students at the University of Florida Levin College of Law International Tax LLM Program.
By Richard Rubin, Paul Hannon, and Sam Schechner
An agreement by wealthy countries to impose minimum taxes on multinational companies faces a rocky path to implementation, with many governments likely to wait and see what others, especially a divided U.S. Congress, will do. Treasury Secretary Janet Yellen hailed the deal, reached by finance ministers of the Group of Seven leading nations over the weekend in London. She called it a return to multilateralism and a sign that countries can tighten the tax net on profitable firms to fund their governments.
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