France's Le Maire urges G7 to seize opportunity for global tax aimed at digital giants

Record ID: 1619751

  • Title: France's Le Maire urges G7 to seize opportunity for global tax aimed at digital giants
  • Date: 4th June 2021
  • Summary: NEW YORK, NEW YORK, UNITED STATES (FILE - OCTOBER 20, 2020) (REUTERS) VARIOUS OF GOOGLE ON LAPTOP AND IPHONE
  • Embargoed: 18th June 2021 17:23
  • Keywords: Amazon Facebook France G7 Google United Kingdom avoidance corporate finance tax taxation tech
  • Location: LONDON, ENGLAND, UK/ BRUSSELS, BELGIUM / NEW YORK, NEW YORK; MOUNTAIN VIEW AND MENLO PARK, CALIFORNIA; PHOENIX, ARIZONA, UNITED STATES /
  • City: LONDON, ENGLAND, UK/ BRUSSELS, BELGIUM / NEW YORK, NEW YORK; MOUNTAIN VIEW AND MENLO PARK, CALIFORNIA; PHOENIX, ARIZONA, UNITED STATES /
  • Country: United Kingdom
  • Topics: Europe,G7,Government/Politics
  • Reuters ID: LVA005EFZMA87
  • Aspect Ratio: 16:9
  • Story Text: Some of the world's richest nations are within touching distance of a historic deal to close the net on large companies which do not pay their fair share of tax, France and Germany said on Friday (June 4) after a day of talks in London.
    Finance ministers from the Group of Seven rich nations are meeting in person for the first time since the start of the COVID pandemic, after U.S. President Joe Biden's administration gave fresh impetus to stalled global tax talks this year.
    Rich nations have struggled for years to agree a way to raise more tax from large multinationals such as Google, Amazon and Facebook, which often book profits in jurisdictions where they pay little or no tax.
    A deal could raise tens of billions of dollars for governments at a time when coffers are empty after the coronavirus pandemic.
    But major disagreements do remain on both the minimum rate at which companies should be taxed, and on how the rules will be drawn up to ensure that very large companies with lower profit margins, such as Amazon , face higher taxes.
    The United States has proposed a minimum global corporation tax rate of 15 percent, above the level in countries such as Ireland but below the lowest level in the G7.
    The U.S. Treasury expects a fuller agreement when heads of government meet in England on June 11-13.
    (Production: Chiara Rodriguez, Hazem Sika)
  • Copyright Holder: FILE REUTERS (CAN SELL)
  • Copyright Notice: (c) Copyright Thomson Reuters 2021. Open For Restrictions - http://about.reuters.com/fulllegal.asp
  • Usage Terms/Restrictions: Footage contains computer game or software screenshots. User is responsible for obtaining additional clearances before publishing this clip.
Register