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Pastries and Persuasion: How a global tax deal got done

From Zoom meetings to top-notch tax experts, US Treasury Secretary Janet Yellen tapped all possible resources to win over the reluctant countries

October 28, 2021 / 08:50 PM IST
Pastries and Persuasion: How a global tax deal got done

US Treasury Secretary Janet Yellen

Alan Rappeport WASHINGTON — Over a two-hour breakfast of tea and pastries at the Hotel Amigo in Brussels in July, Treasury Secretary Janet Yellen tried to persuade Paschal Donohoe, the Irish finance minister, to abandon Ireland’s rock bottom corporate tax rate and join the global deal the Biden administration was racing to clinch. The closing pitch was simple: Ireland cannot go back in time. The days of American companies moving their headquarters to Ireland for tax purposes were largely over, and...

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