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 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.
The European Union should press ahead with plans for a bloc-wide digital tax in case global talks at the OECD to rewrite international tax rules fail, French Finance Minister Bruno Le Maire said on Wednesday.
French Finance Minister Bruno Le Maire on Monday backed an intervention by the country's foreign minister Jean-Yves Le Drian in luxury goods giant LVMH's plans to back out of a takeover of U.S. jeweler Tiffany.