Wednesday, 09 Jun 2021 11:51 AM MYT
The agreement between the US and its G7 partners Britain, France, Japan, Italy, Germany and Canada in London at the weekend is only the first step in a long process. Reuters pic
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PARIS, June 9 After the accolades, an agreement among the world’s wealthiest countries to set a global minimum tax on the biggest companies now faces a long, bumpy road to implementation.
The path is complicated even among the Group of Seven rich nations that endorsed the plan, with US President Joe Biden having to convince recalcitrant members of Congress.
France To Fight For Amazon s Inclusion In Digital Tax
06/09/21 AT 10:45 AM
France said Wednesday it would make sure that internet commerce giant Amazon is subject to a minimum global tax endorsed by the Group of Seven wealthy nations, while calling for a rapid conclusion of the tax negotiations.
According to the plan, countries would be allowed to tax a share of the profits of the most profitable companies in the world at a rate of at least 15 percent, regardless of where they are based.
This would apply, however, only to companies whose profit margins exceed 10 percent.
Despite Amazon s colossal footprint and a market capitalisation of more than $1 trillion, its profit margin last year amounted to just 6.3 percent.
PARIS, June 9 France said today it would make sure that internet commerce giant Amazon is subject to a minimum global tax endorsed by the Group of Seven wealthy nations, while calling for a rapid conclusion of the tax negotiations. According to the plan, countries would be allowed to tax a.