Tuesday, February 5, 2019
French Finance Minister Bruno Le Maire has said that the "fair" taxation of multinational companies will be at the heart of the G7's agenda during the French presidency of the group.
Speaking at the World Economic Forum in Davos, Switzerland, Le Maire said that France would seek agreement in the G7 for minimum rates of corporate tax in developed countries to ensure that multinational companies cannot "escape tax."
While Le Maire accepted that a degree of tax competition is healthy, he was sharply critical of jurisdictions which maintain zero rates of corporate tax – a situation he described as "unacceptable."
"This allows companies to escape a fair taxation," he said.
France holds the G7 presidency for the year 2019. One of its goals for the presidency is the "strengthening of the social dimension of globalization through more fair and equitable trade, tax, and development policies."
The next G7 Summit will be held in Biarritz, France, in August 2019.