G7 Finances: no agreement on taxation, an agreement on tests against Covid-19

The French Minister of the Economy Bruno Le Maire, in London on June 4, 2021. REUTERS - POOL

Text by: RFI Follow

3 min

Very close to an agreement.

But we are not there yet.

At the G7, the finance ministers failed on Friday June 4 to agree on an international taxation of companies.

It was the main debate on the table.

Ministers are still to discuss on Saturday to better prepare for the heads of state meeting scheduled for next week in Cornwall.

For now, it is on the sharing of the results of vaccine and treatment trials against Covid-19 that the G7 health ministers have reached an agreement in principle. 

Publicity

Read more

Ministers are a hair's breadth away from a historic agreement on the taxation of large companies, according to French Minister Bruno Le Maire after his meetings with his counterparts.

The negotiations are in any case intense and the opportunity is indeed historic to reform an area, that of global taxation, left fallow for decades.

While the states agree on the principle of establishing a global corporate tax rate, there is not yet a consensus on the outlines of this dossier, which are as technical as they are political.

France wanted to introduce a significant rate, much more than the 15% proposed by the United States.

But which companies exactly would be affected, beyond the large digital groups, many of which are American?

This remains to be determined.

Better prevent health threats

With regard to the fight against Covid-19, which has accelerated this awareness of taxation, the G7 health ministers are committed to a charter to better prevent health threats and better share the results of clinical trials of vaccines and treatment.

No concrete announcement, however, in favor of the IMF's plan to expand immunization around the world.

The financial institution pleads for modest support: $ 50 billion.

The G7 Finances continues on Saturday morning precisely around “

support for low-income countries

”.

► To read also: 

A G7 Finances under the sign of an international taxation of companies

Newsletter

Receive all international news directly in your mailbox

I subscribe

Follow all the international news by downloading the RFI application

google-play-badge_FR

  • G7

  • Coronavirus

  • Finance