ITR Global Tax 50 2022: Janet Yellen
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ITR Global Tax 50 2022: Janet Yellen

Secretary of the US Treasury

Janet Yellen.jpg

Janet Yellen was instrumental in securing the landmark international tax agreement at the OECD, which was signed by 137 countries in October 2021.

The OECD’s two-pillar solution represents the most wide-reaching set of reforms to the global tax environment. The reforms set a minimum corporate tax floor of 15% and aim to ensure that multinationals pay a fair share of tax in the countries in which they operate.

However, securing this agreement appears to have been the easy part – the key challenge now will be getting it past a wall of resistance from both political and business groups in the US.

Yellen has had a busy 2022 as US treasury secretary.

Washington passed the Inflation Reduction Act, both a significant and controversial piece of legislation. The law included an $80 billion boost for the beleaguered Internal Revenue Service (IRS). The IRS aims to narrow the US’s $7 trillion tax gap.

While the legislation contains important clean energy tax incentives, it failed to incorporate key provisions for implementing pillar two’s global minimum tax rate.

Yellen has also steered the world’s wealthiest nations during global challenges, including the war in Ukraine, and energy and inflation crises.

She has played a pivotal role in uniting the West and G7 nations, particularly finance ministers, behind a series of sanctions on Russia. This has included G7 nations imposing punitive duties and tariffs on Russian goods imported into G7 markets.

Yellen has also played a hand in US domestic policy in recent years. This has included the passage of vital legislation such as the Infrastructure Investment and Jobs Act in 2021 and the Tax Cuts and Jobs Act in 2017. These measures lowered US corporate tax rates, modernised international tax rules and attempted to shore up anti-base erosion rules.

Yellen’s influence on global economic and tax policy casts an even longer shadow. It dates back to her role as chair of the Economic Policy Committee of the OECD and US President Bill Clinton’s Council of Economic Advisers in the late 1990s.

She then went on to serve as head of the Federal Reserve System from 2014 to 2018. Since January 2021, Yellen has been the secretary of the US Department of Treasury.

Global Tax 50 2022

Breaking down the entire 50 individually according to the impact they made would require too granular an approach. Each entry is in alphabetical order as part of categories, i.e. individuals, to make it simpler to navigate.

Industry figures
Tax authorities
Public officials
Noteworthy individuals
Vice president of global transfer pricing and tax disputes, Johnson & Johnson
Chair of tax policy group, BusinessEurope
Director and head of international tax for Meta Latin America
Head of transfer pricing, AstraZeneca
Executive vice president of global tax and treasury, Unilever
Global head of tax, Siemens
Chair of the taxation committee, USCIB
Chair of the tax committee at BIAC
Commissioner of the Canada Revenue Agency
Commissioner of SARS
Minister of Revenue, New Zealand
Former IRS commissioner
Commissioner of the State Tax Administration
Executive secretary of ATAF
Director of direct taxation, coordination, economic analysis and evaluation, European Commission
Minister of finance, budget and national planning, Nigeria
US president
Departing president of Brazil
Secretariat of the economy, Mexico
Acting Head of the Tax Policy and Statistics Division, OECD
Co-chairs of the UN Committee of Experts on International Cooperation in Tax Matters (UN Tax Committee)
Commissioner for the economy, European Commission
Minister of finance, Indonesia
Head of TIWB secretariat
Prime minister of Japan
US senators
Director-general of the Public Debt Management Office, Thai Ministry of Finance
Chair of the House Ways & Means Committee
Director of the OECD’s Centre for Tax Policy and Administration
Head of the GloBE unit, OECD
President of Colombia
Acting deputy director of the Centre for Tax Policy and Administration, OECD
Former director of the Centre for Tax Policy and Administration, OECD
Lord of Kingswood, UK
Minister of finance and corporate affairs, India
UK prime minister and chancellor of the exchequer
Chair of the Senate Finance Committee
Secretary of the US Treasury
CEO and global chairman, EY
Tax attorney, blogger and podcaster, Taxgirl
Former Uber lobbyist
Director of Tax Research UK
Director of Tax Policy Associates
CEO of Opportunity Green
Chief executive of Tax Justice Network
Acting director of TaxWatch
Former responsible tax lead at PIRC
Chief executive of Fair Tax Foundation
Director of the ICIJ
Principal analyst for CICTAR
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