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French, US Finance Chiefs Agree to Push Cross-Border Tax Reform

Bruno Le Maire Europe French Finance Minister Janet Yellen taxing multinational businesses US US News World

French, US Finance Chiefs Agree to Push Cross-Border Tax Reform

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PARIS—French Finance Minister Bruno Le Maire and his new U.S. counterpart Janet Yellen agreed on Thursday to seek an international agreement on new rules for taxing multinational businesses, the French finance ministry said after the pair’s first calls since Yellen took office. Paris and Washington clashed during the Trump administration over France’s tax on digital service companies and over reluctance from Yellen’s predecessor Steven Mnuchin to move forward on talks to overhaul the rules for taxing cross-border commerce. “Bruno Le Maire and Janet Yellen … agreed on the need to find multilateral solutions to many of the issues facing the global economy, including addressing the tax challenges of efficiently and equitably taxing the income of multinational firms,” the French finance ministry said in a statement. “Bruno Le Maire welcomed Secretary Yellen’s commitment to active U.S. participation in the ongoing OECD discussions on international taxation to forge a timely international accord,” …

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