US drops key obstacle to global digital tax: Treasury

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Washington, Feb 26 (AFP/APP):US Treasury Secretary Janet Yellen told her G20 colleagues Friday that Washington is dropping a push for a controversial provision in a global digital tax, opening the door to an agreement.
The administration of former president Donald Trump had insisted on a so-called safe harbor clause in the OECD tax that effectively would have allowed big tech companies to comply voluntarily, blocking progress on a deal.
Yellen announced at the G20 finance ministers meeting that US officials “will engage robustly” in the talks and “is no longer advocating for ‘safe harbor’ implementation of Pillar 1,” a Treasury official told AFP.

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