Pastries and Persuasion How a Global Tax Deal Got Done

Greenberg, a tax law professor at Georgetown University who worked for the Treasury during the Bush and Obama administrations, said he complained about America’s “very high corporate tax rates” in 2016 and 2017. I’m skeptical of the group. In a parliamentary session, he called for a reduction in tax rates to support the consumption tax.

However, in early 2020, Greenberg said in a foreign essay that a European tax on digital services could open a dangerous front for the Trump administration’s tariff wars, “the collapse of the centuries-old international tax system could be accelerated. Very likely.” Transactions. Later that year , campaign adviser Greenberg Biden warned of how his international tax proposal ties in with the hopeless debate about global minimum taxes.After the election, he joined Biden’s transition team.

Kaiser, a Fordham Law School professor and tax treaty expert, publicly criticized Republican tax reforms in 2017. In 2018, he told the Senate Finance Committee that international tax rules “fundamentally destroy corporate taxation”. , Assistant Director of the White House National Economic Council, to recruit him to the transition team and the government.

Greenberg and Kaiser are the biggest US companies dealing with tax officials worldwide and are concerned about what the deal might mean for them because the Treasury works remotely. I called the director of the tax office. Tax bill.

They worked in the basements of Washington and Connecticut, exchanging real-time email regularly during talks, but didn’t meet until July when they went to a meeting of the Treasury Secretary from Venice. Often at such summits divisions and rules of law are passed, with Yellen meeting with Yellen and Greenberg negotiating individually with Irish tax authorities.

Negotiations in recent months have focused on the United States and Ireland, but moving troops have moved from Peru to India, threatening to end the deal shortly before the announcement.

Yellen’s approach to Ireland is more of a problem than a pressure.

“While these tax incentives may have been important to Ireland in the past, Ireland has built a very strong economy with a highly trained workforce,” Yellen said. ‚ÄúThis is a very attractive location for American multinationals to choose their headquarters in the EU.