© Reuters. Launching of the 2020 earnings tax marketing campaign in France

PARIS (Reuters) -A brand new U.S. proposal to unblock worldwide negotiations on methods to tax huge multinationals is an “attention-grabbing” start line, French Finance Minister Bruno Le Maire mentioned on Thursday.

He mentioned his U.S. counterpart Janet Yellen had urged this week {that a} broader vary of corporations needs to be coated by new guidelines for taxing multinationals that are being negotiated on the Organisation for Financial Cooperation and Improvement.

“If we may be assured that the American proposal covers all the digital giants with out exception, it seems to us to be an attention-grabbing level of departure,” Le Maire instructed journalists.

Pissed off like many governments that huge digital giants like Google (NASDAQ:) and Fb (NASDAQ:) can legally guide income in low-tax international locations like Eire, France in 2019 imposed a digital service tax that it has promised to drop as soon as there’s an OECD deal in place.

Nonetheless, France stays topic to a risk of U.S. tariff retaliation which the earlier administration of Donald Trump put in place, judging that the French tax unfairly discriminates in opposition to U.S. corporations.

Le Maire additionally mentioned that he was open to contemplating the next international minimal company tax price than what had been into consideration to date within the OECD talks.

A price of 12.5% had been beneath dialogue to date within the negotiations till Washington proposed a price of 21% this week.

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