The new French presidency of the EU is making implementation of the recent OECD global tax deal a high priority.
The 2021 deal allows for a global corporate minimum tax rate, the first time that such an agreement has been reached.
As set out in a new report by Corporate Europe Observatory and Observatoire des Multinationales, president Emmanuel Macron is keen to deliver some 'quick wins' early in his EU presidency.
Showcasing positive outcomes of France's membership of the EU might help Macron in the run up to the French presidential elections in April, especially when facing the eurosceptic right wing at the polls.
However, the OECD tax deal sets the bar far too low, and is full of loopholes. It is vital that the French government does not prioritise speed over ambition, nor corporate lobby wishlists, when getting the deal over the line in the council, or it risks a hollow victory that fails to deliver tax justice.
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