Frydenberg welcomes Yellen’s calls for global minimum corporate tax

Tom McIlroy and John Kehoe

Apr 6, 2021 – 5.49pm

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Treasurer Josh Frydenberg has welcomed Janet Yellen’s calls for a global minimum tax on multinationals, in moves that will add critical momentum to multilateral plans to tax digital giants including Facebook and Google.

The Treasury Secretary brought the United States back to the table on the G20 and Organisation for Economic Co-operation and Development-led push to create multilateral rules to limit tax avoidance and profit shifting, vowing to reassert America’s economic leadership after the Trump era.

Tom McIlroy is the Financial Review’s Canberra bureau chief based in the press gallery at Parliament House. He was previously the AFR’s political correspondent.

John Kehoe is economics editor at Parliament House, Canberra. He writes on economics, politics and business. John was Washington correspondent covering Donald Trump’s first election. He joined the Financial Review in 2008 from Treasury.