France says U.S. offer on global minimum tax rate is basis for compromise

[May 21, 2021]  PARIS (Reuters) -The latest U.S. proposal in international talks on a global minimum corporate tax rate is a basis for compromise, French Finance Minister Bruno Le Maire said on Friday.

French Economy and Finance Minister Bruno Le Maire visits a cafe during preparations for the reopenning of restaurants and bars in Paris as part of an easing of the country's lockdown restrictions amid the coronavirus disease (COVID-19) outbreak in France, May 18, 2021. REUTERS/Benoit Tessier

The U.S. Treasury Department on Thursday offered to accept a global minimum corporate tax of at least 15%, a rate significantly below its proposed 21% minimum for U.S. multinationals.

"The last proposal made by the United States could be a good compromise," Le Maire said as he arrived for talks with euro zone counterparts in Lisbon.

"But the key question is clearly to have a compromise and an agreement about the two pillars - digital taxation and minimum taxation as soon as possible, I mean the G20 in Italy at the beginning of July," he added.

The nearly 140 countries involved in the talks aim to reach an agreement by mid-year but the Organisation for Economic Cooperation and Development, which is hosting the negotiations, has suggested it may take until October to finalise a deal.

(Reporting by Leigh ThomasEditing by David Goodman and Toby Chopra)

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