G7 Finance Ministers and Central Bank Governors Meeting - Presidency Update, 19 March 2021

 

Remarks by Angel Gurría, Secretary-General, OECD

Paris, 19 March 2021

Let me briefly update you on international tax. I am glad to report that all the conditions to reach an agreement by July are now gathered.

Thanks to Secretary Yellen, the so called “safe harbour” proposal is no longer an obstacle for a swift negotiation.

I understand that discussions on the scope of Pillar 1 will start very soon and I invite you all to support your negotiators and have a strong sense of compromise. Equally, discussions on Pillar 2 will leverage on all the work done so far and we are hopeful a good deal can be achieved.

The package is within reach. It will also have to include a standstill and rollback of unilateral measures. The G7 can help move it forward in the G20, and I count on you to build bridges also with developing countries so that the deal be truly global and the risk of fragmenting the international tax framework is firmly kept at bay.

 

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