Global digital tax deal might not be ready until early 2024 – France

div classBodysc17zpet90 cdBBJodivpPARIS Reuters – A global digital tax deal might not be ready until the end 2023 or early 2024, French Finance Minister Bruno Le Maire said on Tuesday, flagging a big delay to the reforms implementation.p

pThe deal, which officials had hoped to sign off on at the middle of this year, aims to reallocate rights to tax big digital groups such as Apple and Google to the countries where the end clients are located. pdivdivdiv classBodysc17zpet90 cdBBJodiv

pIt is the first of two pillars of a major overhaul of the rules of crossborder taxation which also include plans for a global minimum corporate tax of 15 on big multinationals.p

p“As far as Pillar I is concerned – digital taxation – we wont spare our efforts to convince the international community and the members of the OECD to do their best efforts to have a consensus in the coming months,” Le Maire said after chairing a meeting of EU finance ministers in Brussels.p

p“It might be the end of 2023, it might be the beginning of 2024, the key point is to have a total overhaul of the international taxation system,” Le Maire added.p

pNearly 140 countries agreed last October to rewrite the rules of international taxation for the first time in a generation, setting a 2023 deadline for implementation.p

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pp Reporting by Sudip KarGupta and Leigh Thomas, Editing by Louise Heavensp

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