1 Minute Read by Reuters Staff (Reuters) – VENICE, July 11 (Reuters) – Janet Yellen, the US Treasury Secretary, warned on Sunday that a new mechanism to allow more countries to tax huge, extremely wealthy multinational corporations may not be ready for Congress to examine until the spring of 2022. After a G20 finance chiefs meeting in Venice, Italy, Yellen said the OECD’s “Pillar 1” re-allocation of taxing powers was on a “slower track” than a global corporate minimum tax of at least 15% as part of a big tax accord among 132 countries. (David Lawder and Gavin Jones contributed reporting; Hugh Lawson edited the piece.)/n
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