France Puts Onus on G-7 to Lead the Way in Global Tax Revamp

Logo: Bloomberg Law

By William Horobin

European governments are increasingly optimistic that the G-7 could mark a breakthrough after U.S. President Joe Biden’s administration made proposals on the two pillars of the talks: where to tax firms in the digital era, and a minimum rate. Le Maire said that while the U.S. proposal for a 15% floor would feature in the London talks, the key issue for France remains new rules on how to divide up rights to tax multinationals -- the so-called pillar one of international negotiations. On Wednesday, he said that, subsequent to a recent U.S. proposal to limit rules to the 100 biggest firms, there is progress toward ensuring digital giants are covered. 

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By William Horobin, posted on Thursday May 27, 2021

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