Will oppose any step back from Bali statement on war, says France FM

Under Pillar One of BEPS, multinational enterprises with global turnover above 20 billion euros and pre-tax profit above 10 percent of revenue will have to pay 25 percent of the profit before tax

France Finance Minister Bruno Le Marie on Wednesday said the members of Organization for Economic Co-operation and Development (OECD) need to implement pillar two of the Base Erosion and Profit Shifting framework, and the negotiations on pillar one should be completed without delay.

Addressing a media briefing on the sidelines of the G20 meeting of Finance Ministers and Central Bank Governors (FMCBG) in Bengaluru, Le Marie said France would oppose any ‘step-back’ from the communiqué of the G20 Heads of States in Bali last November (specifically on Russia-Ukraine), and that a common framework to deal with global debt needs to