France will try to raise the global tax on multinationals: "We will do everything possible to increase it."

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source: marketresearchtelecast.com

France will try to raise the global tax on multinationals: "We will do everything possible to increase it."

The Emmanuel Macron government favored a 21% rate, as originally proposed by Joe Biden's team, but acknowledged that it would be difficult to reach a consensus with the other countries, particularly Germany.

French Finance Minister Bruno Le Maire assured this Sunday that France would defend the "maximum" global tax agreed upon by members of the G7 on a minimum of 15 taxes on a number of multinational corporations. ۔

In an interview on Europe 1 radio station, the finance minister said that achieving 15% was already a success that would cost "day and night", but now he would try to maximize taxes.

15 is a compromise. We tried to include at least 15% in the last release. "In the coming weeks, we will continue to fight, especially with Germany, to keep the rate as high as possible," Le Maire said.

The French government agreed to set the rate at 21%, as requested by US President Joe Biden, but acknowledged that "after several days of talks at the G7 summit in London this week, the rate It will be very difficult to grow. "

It will be very difficult. Finding an agreement was already very difficult, but we will do our best to extend it, "said Le Maire, who has been defending the French government's work in France since coming to power in 2017. Defend the Internet giants to evaluate their benefits

This week's agreement was reached by economic leaders from the United Kingdom, the United States, France, Germany, Italy, Canada and Japan, saying that large multinationals pay their taxes where they receive their profits and not where they Has a physical capital.

The agreement is not yet effective, as it will have to be addressed at the G20 summit in Venice next July, and the definition of major multinational companies will have to be agreed upon.

This process should continue for many years. In addition to the Group of 20, approval from 140 countries working on a tax reform plan within the OECD will also be required.

The challenge is to convince countries that have built their economies, especially for companies such as Ireland (12.5%), based on low tax rates, and this has attracted the European headquarters of several multinationals.

This was the time when some of the world's most powerful economies forced multinationals, including tech and pharmaceutical giants, to pay their fair share of taxes. However, setting a minimum corporate tax rate of only 15% globally is too low, "said Gabriela Bucher of Oxfam, an NGO.

For its part, Facebook "welcomed" the deal, but Nick Kelly, the group's vice president for global affairs, said on Twitter that the group acknowledged that this could mean more Facebook in different places. Pays taxes.