France Urges EU to Adopt Global Minimum Corporate Tax

France's Finance Minister Bruno Le Maire said the European Union (EU) should adopt new rules for a global minimum corporate tax of 15% in the coming weeks, despite member states' doubts about the timetable, according to Bloomberg.

France made progress on new international tax rules as a priority for its presidency of the European Union in the first half of this year, following an agreement between some 140 countries in October at the Organization for Economic Co-operation and Development (OECD).

However, some European countries have expressed concerns about the feasibility of implementing the global agreement in 2023, while others are calling for further progress on another part of the comprehensive reform related to tax rights for multinational companies.

"Some countries still have concerns because their economic models are based on a very low level of taxation, but they have accepted the OECD agreement," Le Maire said upon arriving at a meeting to discuss the issues in Brussels. "You can't accept the OECD agreement and later say it's not right when it's drafted as a European directive on exactly the same terms."