French, US Finance Chiefs Agree to Push Cross-Border Tax Reform

French, US Finance Chiefs Agree to Push Cross-Border Tax Reform
French Economy and Finance Minister Bruno Le Maire, wearing a protective face mask, leaves following the weekly cabinet meeting at the Elysee Palace in Paris, France on Jan. 27, 2021. Gonzalo Fuentes/Reuters
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PARIS—French Finance Minister Bruno Le Maire and his new U.S. counterpart Janet Yellen agreed on Thursday to seek an international agreement on new rules for taxing multinational businesses, the French finance ministry said after the pair’s first calls since Yellen took office.

Paris and Washington clashed during the Trump administration over France’s tax on digital service companies and over reluctance from Yellen’s predecessor Steven Mnuchin to move forward on talks to overhaul the rules for taxing cross-border commerce.