US-France negotiations on digital tax difficult, goal remains minimum taxation, French Minister says

US-France negotiations on digital tax difficult, goal remains minimum taxation, French Minister says
  • Clock-gray 14:11
  • calendar-gray 21 January 2020

French Finance Minister Bruno Le Maire has admitted that Paris’ talks with Washington on the taxation of digital companies “remained difficult” even though the two sides earlier vowed to shun a trade war, APA reports citing Sputnik.

He praised a truce that was clinched France’s President Emmanuel Macron and his US counterpart Donald Trump on Monday, something that Le Maire said was a "very positive starting point".

At the same time, he said that the sides have yet to arrive at a consensus on digital taxation-related activities on global stage.

In this vein, slapping a minimum tax rate on companies which currently pay no levies remains a priority, according to Le Maire.

The statement comes after Reuters cited an unnamed source as saying on Monday that US President Donald Trump had agreed to hold off on tariffs with France until digital tax negotiations at the Organisation for Economic Co-operation and Development (OECD) are over.

This came as Macron took to Twitter so as to hail what he described as “great discussion” with Trump, in reference to the US-French negotiations on digital tax.

The talks follow Trump’s threat last year to impose tariffs on French goods in retaliation against France's new tax on the annual revenues of mostly American companies.

 

apa-logo-mini

Other news

Archive

date