The French Minister of Economy and Finance Bruno Le Maire spoke on Wednesday 9 September on the taxation of digital companies.
He felt that the United States did not want an agreement at the OECD on this matter.
If the blockage of discussions led by the Organization for Economic Co-operation and Development persists by the end of the year, Europe will have to prepare its own digital tax in early 2021, the minister added during a briefing.
A loss of $ 100 billion 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 are increasing the obstacles that prevent us from reaching an agreement even though the technical work is fact."
"If the blockade at the OECD by the United States were to be confirmed by the end of the year, we are counting on the European Union to table a formal proposal to tax digital activities in the first quarter of 2021."
The OECD has been working for months on a plan to force digital companies to pay their taxes in the countries where they generate their profits rather than in more tax-friendly entities where they register their subsidiaries.
OECD services estimate that these practices represent up to $ 100 billion in less tax revenue globally.
With Reuters
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