Gaffa tax: a contract “in hand”

Gaffa tax: a contract "in hand"

France yesterday ruled that the summer tax on multinational corporations, especially digital companies, was “in effect” following a step taken by Washington.

“We must now” immediately end the ongoing negotiations at the OECD, “Finance Minister Bruno Le Meyer said in a statement during a meeting with his G20 opponents:” This is in the hands of the United States, especially now that it is abandoning the disputed “safe haven” provision. “

A “safe haven” is tantamount to giving digital giants the choice between voluntarily adopting a new tax system or staying in the current system.

That is why the United States has decided to remove this hurdle, which the Trump administration put on the table by the end of 2019, from the perspective of the international agreement on taxing the digital giants.

The project is being discussed within the framework of the Organization for Economic Co-operation and Development (OECD).

Negotiations are taking place on the one hand the tax rights between the producing countries and the consuming countries (Pillar 1), and on the other hand, the minimum tax is the limit of all countries for determining where to pay the tax (column 2).

Paris has indicated that if negotiations at the OECD fail, France will campaign for the EU to impose its own tax.

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