The United States does not want an agreement on a digital tax, according to Bruno Le Maire

The blockade of discussions on the taxation of digital companies is due, according to the Minister of Economy and Finance Bruno Le Maire, in the United States. According to the French minister, Washington does not want an agreement in the OECD.

French Finance Minister Bruno Le Maire spoke on Wednesday, September 9, about the taxation of digital companies. He said the United States did not want an OECD agreement on this.

If the blockade of discussions led by the Organization for Economic Co-operation and Development remains until the end of the year, Europe will need to prepare its own digital tax in early 2021, the minister added during a review.

A $ 100 billion loss in tax revenue

“The observation, it is very clear, indicated Bruno Le Maire, the United States does not want digital taxation at the OECD. So they multiply obstacles that prevent us from reaching an agreement even when the technical work is done.”

“Should the US blockade at the OECD be confirmed by the end of the year, we expect the European Union to present a formal proposal to tax digital activities in the first quarter of 2021.”

The OECD has been working for several months on a plan to force digital companies to pay their taxes in countries where they generate their profits rather than in more tax-exempt units where they register their subsidiaries. that these methods represent up to $ 100 billion less tax revenue globally.

With Reuters