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German, French ministers back US on 21% minimum corporate tax rate
"I, personally, have nothing against the US proposal," Germany's Olaf Scholz was quoted as saying. "If that is the result of negotiations, we would also be agreed," France's Bruno Le Maire said, according to Zeit.
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US Treasury Secretary Janet Yellen speaks during a panel discussion at the American Economic Association/Allied Social Science Association (ASSA) 2019 meeting in Atlanta, Georgia, US, Jan. 4, 2019. (Reuters/Christopher Aluka Berry)
T
he finance ministers of France and Germany support the idea of a 21percent minimum corporate tax rate, as suggested by the US government, they said in a joint interview in Zeit Online on Tuesday.
"I, personally, have nothing against the US proposal," Germany's Olaf Scholz was quoted as saying. "If that is the result of negotiations, we would also be agreed," France's Bruno Le Maire said, according to Zeit.
US Treasury Secretary Janet Yellen said this month she was working with G20 countries to agree on a global corporate minimum tax rate, and put forward a figure of 21 percent.
A rate of 12.5 percent for multinationals had been under discussion for new rules being negotiated at the Organisation for Economic Cooperation and Development.
Scholz and Le Maire are holding talks on Tuesday and, among other issues, are due to discuss tapping money from the European Recovery Fund
