Tuesday, June 25, 2024

Taxes: France expects ‘hard battle’ with China at G20

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Maria Gill
Maria Gill
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The next step is the G20, which will take place in Venice, Italy, in early July., Bruno Le Maire said in an interview with Europe 1 / CNews/The reverberation. The G20 finance ministers will meet there on July 9-10.

There, we will have to convince the other great powers, particularly Asia, and I am thinking in particular of China. Let’s face it, it’s going to be a tough battle. I am optimistic that we will win it because the G7 is giving exactly this very strong political impetus.

Quote from:Bruno Le Maire, French Minister of Economy and Finance

On Saturday, the G7 finance ministers (Canada, France, the United Kingdom, Italy, Japan, Germany and the United States) announced an agreement on a global corporate tax.at least 15% And on a better distribution of tax revenue from multinational corporations, particularly digital giants, after a two-day meeting in London.

This agreement among the Group of Seven great powers has encouraged America’s shift on the tax issue since Joe Biden came to power.

It is also in line with the spirit of the work done withinOrganization for Economic Cooperation and Development On big tech companies, often American, that pay hefty taxes despite huge profits, by localizing in countries where the corporate tax rate is very low, if not zero.

These are tax returns that can be substantial and fair, and will not penalize one state or another. It will be global and that’s what makes it effective.

Quote from:Bruno Le Maire, French Minister of Economy and Finance

Mr. Le Maire estimated that for the digital giants, this could benefit France Something more important than the 400 million euros we get with the national tax الضريبة approved in 2019. It could range from 500 million euros to 1 billion euros annually.

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Regarding minimum taxes for multinational corporations, The rule is much broader because it affects a very large number of companies. We are dealing with tens of billions of euros at the European level and several billions of euros at the level of France, he added.

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