Skip to content
Magazine
Wednesday, August 6, 2025
SUBSCRIBE
  • About Us
  • Belgium News
    • Belgium Police News
    • Brussels News
  • EU Institutions News
    • European Commission News
    • European Parliament News
    • European Council News
  • Europe News
  • World News
  • Belgium Business News
  • Culture and Society News
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Sustainable Perspective
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
  • About Us
  • Belgium News
    • Belgium Police News
    • Brussels News
  • EU Institutions News
    • European Commission News
    • European Parliament News
    • European Council News
  • Europe News
  • World News
  • Belgium Business News
  • Culture and Society News
  • In Depth
    • Ambassador’s Corner
    • The American Angle
    • Sustainable Perspective
    • Europe With Transparency
    • Place de la Bourse
    • The Macro-Economist
    • Southeast Europe
SUBSCRIBE

US to push Poland to support global minimum corporate tax

Shiva Singh by Shiva Singh
16 May 2022
in Belgium Business And Economy News
A,Yellow,And,Black,Pencil,On,Top,Of,A,Coin

Belgium, (Brussels Morning Newspaper) The US is planning to push Poland to support the proposed global minimum corporate tax, with US Treasure Secretary Janet Yellen visiting the country.

Poland is the only EU member state that still opposes the plan and the country vetoed the EU’s attempt to implement it last month, according to Reuters reporting on Monday.

Magdalena Rzeczkowska, Finance Minister of Poland, called for tying the proposed global minimum tax to the first pillar of the proposed tax reform – reallocation of taxing rights of multinational companies to countries where they generate revenues.

Some countries that support the global tax reform see this reallocation as the more desired change as it would allow them to tax US tech giants including Alphabet, Amazon, Apple and Meta.

However, countries that took part in Organisation for Economic Co-operation and Development (OECD) negotiations in October did not agree on the first pillar, which is still not fully developed.

Poland’s concerns

Rzeczkowska pointed out that failing to reach an agreement on the first pillar while adopting the second one would put additional pressure on European companies.

Her French counterpart Bruno Le Maire criticised the argument.

Yellen is to meet with Polish officials including Rzeczkowska, Prime Minister Mateusz Morawiecki and Adam Glapiński, head of the National Bank of Poland to discuss the issue.

She is also to visit the World Central Kitchen facility that provides Ukrainian refugees with meals as part of her stay in Poland.

According to a source close to OECD negotiations, Yellen will stress the positive aspects of the proposed global minimum corporate tax as it is expected to generate revenues of some US$ 2 billion annually, which could help Poland to pay for hosting refugees.

The source stressed “these revenues are going to be paid by large multinational corporations, not Polish individuals or small businesses.”

“It’s going to move investments from countries that are traditional tax havens to countries like Poland that can compete on the basis of their workforces and their economic fundamentals,” the source concluded.

Manal Corwin, former US Treasury official, predicted that convincing all EU member states to support the plan would put pressure on the US to adopt the changes.

Washington has not adopted the changes as they are part of a large spending package that is facing resistance over soaring inflation.

Related News:

  • Most OECD members support 15% minimum global corporate tax
  • Global minimum corporate tax proposal faces obstacles
  • World’s financial leaders ready to adopt global minimum tax
  • OECD members to decide on proposed global corporate tax
Tags: News
Next Post
Close,Up,Doctor,Holding,Syringe,And,Using,Cotton,Before,Make

EC adapts COVID-19 vaccine agreement with Pfizer

Latest post

EU-elections-UK

EU elections: UK looks on from the “outside”

1 year ago
Galeries-Royales-Saint-Hubert

What Makes Galeries Royales Saint-Hubert an “Institution”?

1 year ago

Most Read

    Follow Brussels Morning
    Facebook Twitter Youtube Linkedin

    Browse Important News

    Belgium News
    Brussels News
    Culture and Society News
    Economy News
    EU Institutions News
    European Commission News
    European Council News
    European Parliament News
    Europe News
    Health And Fitness News
    Southeast Europe News
    Sustainable Perspective
    World News
    Diplomacy News
    US Elections News

    About Us

    Brussels Morning is a daily online newspaper based in Belgium. BM publishes unique and independent coverage on international and European affairs. With a Europe-wide perspective, BM covers policies and politics of the EU, significant Member State developments, and looks at the international agenda with a European perspective.

    More Info

    • About Us
    • Advertise With Us
    • Contact Us
    • Cookies Policy

    Join Our Newsletter

    Brussels Morning Newspaper – All Rights Reserved © 2024

    No Result
    View All Result
    • Home
    • About Us
    • Belgium News
      • Belgium Police News
      • Brussels News
    • Brussels Bubble
      • European Parliament News
      • European Commission News
      • European Council News
    • Wider Europe
      • Member States
    • World News
    • Business & Society
    • Europe With Transparency
    • Culture & Society
    • Policy Talks
      • Place de la Bourse
      • The Macro-Economist
      • Sustainable Perspective
      • Ambassador’s Corner
      • The American Angle
      • Southeast Europe
    • Print Magazine

    Brussels Morning Newspaper - All Rights Reserved © 2020

    We use cookies on our website to give you the most relevant experience by remembering your preferences and repeat visits. By clicking “Accept”, you consent to the use of ALL the cookies.
    Cookie settingsACCEPT
    Privacy & Cookies Policy

    Privacy Overview

    This website uses cookies to improve your experience while you navigate through the website. Out of these cookies, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may have an effect on your browsing experience.
    Necessary
    Always Enabled
    Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
    Non-necessary
    Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
    SAVE & ACCEPT