RIO DE JANEIRO: The United States sees no need to hold talks on an international deal on taxing the super-wealthy, US Treasury Secretary Janet Yellen has said, showing divisions on a plan that is top of the agenda at a meeting in Rio de Janeiro.
Taxing the ultra-rich is a key priority of Brazil’s president Luiz Inacio Lula da Silva, who this year heads the G20 grouping of the world’s major economies, the African Union and European Union.
US Treasury Secretary Janet Yellen said that tax policy is very tough to coordinate worldwide. Janet Yellen said that they don’t see a need to negotiate an international agreement on that. Janet Yellen stated that they thought that all nations should make sure that their taxation mechanisms are progressive and fair.
She also highlighted policies recommended by US President Joe Biden, such as a billionaires’ tax, which she termed as “a very worthwhile step.” She further said that it makes sense for most nations to take this stance of progressive taxation.”
