If Europe, the U.S. and much of the world can’t agree on new rules by December, a raft of countries will restart their own domestic digital tax plans, forcing American tech giants to cough up billions in extra revenue each year
stand-off between the United States and France
Still, governments across Europe, the United States and elsewhere have pinned all their hopes on the OECD, a group of mostly-rich countries, doing what years of negotiations have yet to achieve: reach a global agreement to revamp the world’s tax rules for the digital age. In OECD offices in Paris and other capitals around the globe, a handful of senior officials from the group’s member countries, including Chip Harter, the U.S. Treasury’s deputy assistant secretary, and Gael Perraud, a senior tax policy official at France’s Ministry of Finance, have steered the negotiations.
Some EU government officials, though, aren't sure that Saint-Amans can deliver a workable solution in time to avoid an all-out trade war. A U.S. policymaker openly questioned if he had bitten off more than he could chew with the current negotiations. Since January, he’s been traveling around the world to keep everyone at the table — a tricky task when almost all of the OECD’s membership opposes U.S. demands that the new global digital rules be optional.
Governments from Beijing to Dublin also have cast doubts on the need to create a global minimum corporation tax rate. A handful of Northern and Eastern European governments also fear a blanket rate would undermine their ability to cut tax deals with companies to entice them to set up shop locally.
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