A long road strewn with potential political pitfalls lies ahead for countries seeking to end a race to the bottom on international corporate tax, even though many have agreed to overhaul the way multinationals are taxed.
Google said it would make changes to its global advertising business to ensure it did not abuse its dominance, bowing to antitrust pressure for the first time in a landmark settlement with French authorities.
The U.S., Britain and other large, rich nations reached a landmark deal on Saturday to squeeze more money out of multinational companies and reduce their incentive to shift profits to low-tax offshore havens.
The French economy will return to its pre-COVID 19 levels of economic activity by the first half of 2022, said the French finance minister, who also reaffirmed his target of 5% economic growth for France in 2021.
The U.S said it would delay tariffs on French cosmetics, handbags and other imports in retaliation for a digital services tax Washington says will harm U.S. tech firms, while it investigates similar taxes elsewhere.
France will immediately seek EU retaliation if Washington goes ahead in January with planned trade sanctions over a French tax on digital services, French Finance Minister Bruno Le Maire said on Tuesday.