France Says EU Must Prepare Digital Tax as Global Deal Blocked

French Finance Minister Bruno Le Maire said Europe should prepare levies on multinational tech firms because a global deal to overhaul taxation rules is being “blocked.”

Speaking before this week’s meeting of Group of 20 finance chiefs, Le Maire said the US, Saudi Arabia and India are complicating implementation of the 2021 pact.

That agreement, brokered by the OECD and known as Pillar One, would share rights to tax the world’s biggest firms.

Le Maire said the slow progress validates France’s decision to have already created a national levy on global tech firms’ revenues that generates about €700 million euros ...