Multinationals taxation agreement is a victory for France, says Minister
Taxation – Taxing of multinationals – Reply given by M. Bruno Le Maire, Minister of the Economy, Finance and the Recovery, to a question in the National Assembly
Paris, 13 July 2021
In Italy last Saturday the world’s 20 richest States finally agreed to put in place a new fiscal architecture for the 21st century. This is the culmination of four years of battles, four years of diplomacy and fierce negotiations, often in the face of obstacles and in opposition to many of our partners. It’s a victory; a victory for France, French people, this majority and the President, who have unfailingly supported the project from day one.
It’s a victory for justice against the injustice whereby digital giants escaped paying tax while French and European SMEs had to pay their fair share. With this agreement, all digital giants, without exception, will finally pay their taxes. It’s a victory for effectiveness in combating tax avoidance, which allowed multinationals to make profits in France, Germany, Italy, Belgium and elsewhere and relocate their profits to tax havens and countries using tax optimization in order to pay less tax than they ought.
With this agreement, we are putting an end to tax avoidance and tax optimization. Multinationals will pay the taxes they owe the French Treasury. As you pointed out, the rate is still to be determined. The President and I have been very clear: 15% is a minimum, but if we can get more, we will. But I want to say this to you emphatically and seriously: by sheer determination, we’ve finally come up with the tax system we need for the 21st century.
This system owes a great deal to France, to you and to the President./.