Africa Business Radio

US Treasury Secretary Janet Yellen urged countries in the G7 group of richest nations to quickly implement a global tax reform aimed at curbing tax avoidance.The Treasury says G20 finance ministers backed the deal in July, followed by 134 Organization for Economic Co-operation and Development member countries representing more than 90 per cent of the world’s GDP.Treasury in a statement following a meeting of G7 finance ministers held virtually says Secretary Yellen expressed support for ongoing efforts to improve the international tax system and the importance of swift implementation of the new system. Yellen says the policy will generate funding for a sustained increase in critical investments in education, research, and clean energy.