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France asked that the issue be raised at a regular meeting of EU
finance ministers on Tuesday in Brussels after the U.S. Senate
approved the sweeping reform by a narrow margin on Saturday.
"If these reforms materialize as they stand now, it could create
serious difficulties," one of the sources said.
"There are undoubtedly good reasons to signal to the Americans
that we are going to have complicated talks with you if you
continue in this direction,"
Of particular concern is an aspect of the reform that would give
the U.S. government a broader scope to tax European subsidiaries
on goods they sell in the United States, the second source said.
"This would be very different system from what we have now and
from what is called for by international tax conventions," the
second source added.
After Senators approved the bill at the weekend, talks will
begin, likely next week, between the Senate and the House of
Representatives, which already has approved its own version of
the legislation, to reconcile their respective bills.
The discussions on Tuesday are aimed at finding out which
countries have concerns, and not about whether to come up with
countermeasures, the sources said.
(Reporting by Leigh Thomas; Editing by Richard Lough and
Catherine Evans)
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