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France sees compromise possible on global minimum tax rate at 15% By Reuters

by Mike Robinson

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© Reuters. Bruno Le Maire (French Economy and Finance Minister) attends a conference following a meeting of business federations on when support for crisis measures should be reduced, held at Bercy Finance Ministry Paris, France. August 30, 2021. REUTERS/Sarah

PARIS (Reuters – The global talks for a revision of the tax rules that tax cross-border commerce are now in a critical stage and a compromise can be reached on a corporate minimum tax rate of 15%. This was stated by Bruno Le Maire, French Finance Minister.

Up to now, 134 of the 140 participating countries had supported a minimum tax rate “at least 15%”. However, Ireland has refused to join the negotiations, as it has lower taxes than the rest.

Le Maire explained to journalists that even though a compromise of 15% is possible, there remains a significant block point about how much deduction should be allowed from the global minimal for multinationals. This was based on foreign-market assets and their payroll.

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