NEW:
Just spoke to French fin minister Bruno Le Maire at G7 in London.
We are “just 1mm away from an historic agreement” - says countries such as Ireland need to get “on board”.
Remaining sticking point - min tax rate, 15% “only a starting point” excl on @BBCNews channel soon
Just spoke to French fin minister Bruno Le Maire at G7 in London.
We are “just 1mm away from an historic agreement” - says countries such as Ireland need to get “on board”.
Remaining sticking point - min tax rate, 15% “only a starting point” excl on @BBCNews channel soon
Le Maire: rate is “most tricky difficulty, and I think that if the negotiation is still underway, that's because we are still working on these really tricky points of the rate”..
“clearly 15% is only a starting point. And if it can be higher, it is better to have a higher level”
“clearly 15% is only a starting point. And if it can be higher, it is better to have a higher level”
“we are spending a lot of public money to protect our economies against the consequences of COVID, and to have a quick and v strong economic recovery, but we need money, & we need new resources, I would think that these new resources are the right ones and useful for all of us.”
New minimum & digital tax should raise “significant sums” not just for US, Le Maire tells me. Asked how he will sell 15% plus min corp tax to his colleague the Irish finance minister:
“even Ireland.. must understand they have to give the agreement to these major breakthrough”...
“even Ireland.. must understand they have to give the agreement to these major breakthrough”...
“I can understand the difficulty of Ireland & some other European countries, but when there’s such international impetus, this is in the interest of all 27 EU member states to say, yes, we are on board, and we are supporting this new international tax system” Le Maire tells me
NEW
Sticking points at G7, sources tell me are
- whether there is a specific reference to a specific minimum global corp tax rate at all, or to 15% or to “at least 15%” to show ambition
- Some nations resisting US demands to immediately drop their digital services taxes
Sticking points at G7, sources tell me are
- whether there is a specific reference to a specific minimum global corp tax rate at all, or to 15% or to “at least 15%” to show ambition
- Some nations resisting US demands to immediately drop their digital services taxes
German finance minister Olaf Scholz very excited about tax deal, US engagement, telling me re: what the finance ministers are going to agree tomorrow: “we will have an agreement which will really change the world, ..this will be a turning point in global cooperation” #BBCNewsTen
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