France wants to push during its G7 presidency for a global tax system that includes a minimum corporate tax on a global level, Finance Minister Bruno Le Mer said today.
Le Mer said at the World Economic Forum in Davos that this is necessary to address the imbalances between taxes paid by large and small businesses. He added that he has discussed the idea with the US.
“There is a common understanding among all G7 members that we need a new tax system,” he said.
It is recalled that IMF chief Christine Lagarde has also advocated a new international corporate tax system and today reiterated that the main risk facing the global economy is the trade dispute between China and the US.
“A slowdown in China is OK, it is acceptable,” Lagarde said, adding that “if the deceleration accelerated, that would be a real issue.”