US not ready to sign pending global tax agreement: Jenet Yellen

US Treasury Secretary Janet Yellen stated that the US won't finalize a global tax deal until India and China agree on unresolved issues. Yellen emphasized the importance of their participation, citing India's hesitation and China's limited engagement. \r

Around 140 countries endorsed the outline of the deal in 2021, aiming to reform multinational taxation, including a 15% minimum corporate tax to curb tax havens. \r

However, finalizing the agreement, particularly the portion redistributing taxes on profits, remains challenging. Negotiators, led by the OECD, seek to address lingering details and secure adequate signatories for a multilateral convention to implement the deal.