France sees compromise possible on global minimum tax rate at 15%

October 5, 2021

PARIS (Reuters) – Global talks to rewrite the rules for taxing cross-border business are at a critical phase and a compromise is possible on a minimum corporate tax rate of 15%, French Finance Minister Bruno Le Maire said on Tuesday.

Until now 134 out of 140 countries in the talks had backed a minimum rate of “at least” 15%, but Ireland, which has lower taxes compared to others, has so far refused to sign up over concern the rate could end up being higher than 15%.

Le Maire told journalists that while a compromise on 15% was possible, there remained a major blocking point over how big a deduction from the global minimum should be possible for multinationals based on their assets and payroll in foreign markets.

(Reporting by Leigh Thomas; Editing by Sudip Kar-Gupta)

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