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- France expects minimum tax to yield "several billion" euros -minister
France expects minimum tax to yield "several billion" euros -minister
Reuters reports that Finance Minister Bruno Le Maire said that France expects to raise several billions of euros in extra revenue from a global minimum tax rate currently being negotiated internationally.
Le Maire and his counterparts from the Group of Seven powers agreed on Saturday to support a minimum rate of at least 15%.
Asked how much the minimum tax would yield in France, Le Maire said: “It’s still a bit hard to evaluate, but it’s several billion euros per year.”
A separate pillar of the international talks is focused on how to share out among different countries the right to tax the 100 biggest companies whose profits are considered to be beyond a normal level.
Le Maire said that, under this pillar, France could expect to see 500 million to 1 billion euros in extra tax revenue whereas its existing digital services tax, which Paris has promised to repeal once there is an international deal, generates about 450 million euros per year.
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