Tensions are high over the reform of the taxation of multinationals, hailed as a historic breakthrough at the G7 and G20 at the start of the summer.
The finance ministers of OECD member countries met Tuesday and Wednesday in Paris, before a crucial deadline on Friday.
"It's now or never",
dramatizes Bruno Le Maire.
If an agreement remains
"within reach",
the international dynamic risks, according to him, to fall back, failing to reach by the G20 of heads of state in Rome at the end of the month.
However, we are still far from it.
A dozen countries are still reluctant.
The devil is in the details.
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The world minimum rate seems the least controversial subject.
Instead of the mention of
"at least"
15%, pushed by Paris, Berlin and Washington, this figure would be the greatest possible common denominator.
In particular to embark Ireland, whose government must decide Thursday on its rallying or not to the project.
Indispensable to achieve the necessary unanimity of the Twenty-Seven, while Hungary and Estonia are also slowing down.
It is now
"15% or nothing",
recognizes Bruno Le Maire.
Beyond the rate, the
"political blockages"
linked to the defense of
"economic models"
are multiplying on the parameters of the reform, supposed to come into force in 2023. Poland and Hungary require exemptions to mitigate the effects for the industrial subsidiaries of large groups, such as automobile factories.
Deductions of 7.5% on tangible assets and 10% on payroll are being studied, without consensus for the moment.
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Taxation of multinationals: Ireland worries about Washington's projects
For its part, China refuses to impose minimum taxation on its own multinationals, leaving the countries where their subsidiaries are established to do so, on condition of obtaining progressive application.
Finally, there is the question of the local reallocation of the profits of multinationals (pillar 1 of the reform).
Some countries, like Brazil, India or Turkey, claim 30% of these profits, while the home states of companies (like the United States) camp at 20%.
Paris offers a 25% compromise.