France, Germany Support U.S. 21% Tax Plan for Corporations

Logo: Bloomberg Law

By Arne Delfs and William Horobin

France and Germany have given their backing to the U.S. proposal for a 21% minimum tax on multinational companies, adding momentum to efforts to overhaul global rules despite reluctance from some smaller European countries. The plan by President Joe Biden’s administration earlier this month transformed global negotiations after years of being bogged down. It also carries a significantly higher levy on companies than the 12.5% minimum tax previously discussed. 

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By Arne Delfs and William Horobin, posted on Tuesday April 27, 2021

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