France and the United States agreed on Thursday how to press ahead with a global...
DAVOS, Switzerland - France and the United States agreed on Thursday how to press ahead with a global rewrite of cross-border tax rules for the digital era, French Finance Minister Bruno Le Maire said.
The two hammered out a series of written proposals for the first redrafting of international tax rules since the 1920s that will be put to 137 governments when discussions start next week at the Organisation for Economic Cooperation and Development. Preparations led in part by France and the United States to launch the OECD talks had been eclipsed by their bilateral row with Washington threatening retaliatory tariffs against Paris’ own national tax on big tech companies that book out-sized profits on French income, despite a minimal physical presence.
Speaking on a panel at Davos with Le Maire, Gurria said he was hopeful of securing a draft framework by July. “We have no Plan B — we just have to get it done,” he said.
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