Minister of Economy, Finance and Recovery FranceBruno Le Maire hopes an agreement can be reached on Digital tax With the United States, within the framework of the Organization for Economic Cooperation and Development, for this spring.
This was stated by Le Maire during his speech at a panel discussion organized within the framework of the World Economic Forum, which is being held remotely due to the Coronavirus pandemic.
The minister explained that “there is a possibility that this new international tax system will be ready by the end of the spring of 2021” and stressed that France will do its utmost to clear the way and that an agreement can be reached.
Le Maire was optimistic because the person he chose was President United StateJoe Biden confirmed to Treasury Department leadership, Janet Yellen, that it is ready to reach an agreement on international taxation on the two pillars proposed by the Organization for Economic Cooperation and Development: digital taxation and an effective minimum rate of corporate tax.
The French minister pointed out that “the winners from this economic crisis are the giants of digitalization. How can you explain to some sectors that have been severely affected by the crisis and that are paying their taxes that these digital giants will not have to pay the same level of taxes? It is unfair and ineffective from Economic aspect. “
In October, the Organization for Economic Cooperation and Development made a decision to postpone its planned timeline regarding negotiations on a new international framework on taxation of digital giants.
The agreement was originally supposed to be released at the end of 2020, but has been postponed until mid-2021, in line with what Le Maire has raised this week.
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