French finance minister Bruno Le Maire said that the European Union should finally make US multinationals, such as Google, Amazon and Facebook, pay their fair share of taxes. "Since we have to deal with Mr Putin, Mr Trump or Mr Erdogan, it's time for Europe to pull itself together and defend its own interests," he said.
"I can tell you that the times we live in are not for the weak," Bruno Le Maire told a conference in the southern French city of Aix-en-Provence where many French and international executives gather every year, Reuters reported.
In May 2017, newly-elected French president Emmanuel Macron and German chancellor Angela Merkel agreed to push the project to harmonize their corporate tax codes to fight tax avoidance. Bruno Le Maire said that “harmonizing corporate taxes is a crucial issue in Europe. It’s essential in fighting distortion of competition and illegitimate competition through tax dumping… US electronics giant Apple at one point paid only 0.005 percent in taxes on all profits made within the EU.”
In 2012, former French president Nicolas Sarkozy and Merkel had produced a green paper on the harmonization of corporate taxes, which could not proceed as Sarkozy lost the presidential elections later that year, Malta Today reported.
With the fast growth of China’s economy and the continuous improvement of the comprehensive strength of domestic enterprises, as well as the implementation of the “One Belt, One Road” policy, an increasing amount of Chinese enterprises are beginning to expand their global footprint and establish their presence in Europe.
TPA Global has developed a practical roadmap of 6 steps meant to guide CFOs in their Journey of rising above troubles to reach a situation of full control. These steps are presented in a series of short video clips (3-5 minutes):
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