US Treasury Secretary Janet Yellen announced in February the withdrawal of a safe harbour proposal which was a Trump administration initiative that would have allowed some companies to opt out of new global digital tax rules. Photo: Getty Images/TNS
US Treasury Secretary Janet Yellen announced in February the withdrawal of a safe harbour proposal which was a Trump administration initiative that would have allowed some companies to opt out of new global digital tax rules. Photo: Getty Images/TNS

China urged to address global digital tax rules to avoid ‘new tariff war’ as G20 push for July consensus

  • In February, the US withdrew a safe harbour proposal, paving the way for a digital tax on the likes of Facebook, Google and Amazon
  • The Group of 20 hopes to reach a consensus over the digital tax by July, after some firms were accused of exploiting loopholes to minimise their tax bills

US Treasury Secretary Janet Yellen announced in February the withdrawal of a safe harbour proposal which was a Trump administration initiative that would have allowed some companies to opt out of new global digital tax rules. Photo: Getty Images/TNS
US Treasury Secretary Janet Yellen announced in February the withdrawal of a safe harbour proposal which was a Trump administration initiative that would have allowed some companies to opt out of new global digital tax rules. Photo: Getty Images/TNS
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