PARIS (Reuters) – The latest US proposal in international negotiations on an overall minimum corporate tax rate is a basis for compromise, French Finance Minister Bruno Le Maire said on Friday.
The US Treasury Department on Thursday proposed accepting a minimum overall corporate tax of at least 15%, a rate significantly lower than the proposed minimum of 21% for US multinationals.
“The latest US proposal could be a good compromise,” Le Maire said upon arriving for talks with his euro area counterparts in Lisbon.
“But the key question is clearly to have a compromise and an agreement on the two pillars – digital taxation and minimum taxation as soon as possible, I mean the G20 in Italy at the beginning of July,” he said. added.
The 140 or so countries involved in the negotiations aim to reach a deal by the middle of the year, but the Organization for Economic Co-operation and Development, which is hosting the negotiations, has suggested it may take until ‘in October to finalize an agreement.