French Budget Expects €1.5 Billion From Global Minimum Tax

French Economy Minister Bruno Le Maire announced the inclusion of the OECD’s global minimum tax in the country’s budget alongside an increase in other tax revenues in 2024.

In his budget speech Wednesday, he said companies would benefit from the measure and that it would bring in €1.5 billion ($1.58 billion) annually from 2026.

The global tax deal agreed to by more than 140 countries at the Organization for Economic Cooperation and Development in 2021 includes two main components: Pillar One, a reallocation of taxing rights to market jurisdictions, and ...