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France urges G7 to reach global corporate tax deal

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France urges G7 to reach global corporate tax deal
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"Working for a fairer capitalism" is the motto set by France for its G7 presidency and the meeting talking place in the town of Chantilly north of Paris.

Finance ministers and central bank governors are tying to find an international solution to taxing digital giants.

Paris defied US President Donald Trump last week by passing a tax on big digital firms' revenues in France despite a threat from him to launch a probe that could lead to trade tariffs.

Bruno Le Maire, French Finance Minister: "We have made a very clear step in the direction of our American friends by accepting to negotiate a new global taxation on digital activities - not only digital companies but the digital activities, including the digital activities of other companies."

US Treasury secretary Steven Mnuchin is attending the meeting and the US is still involved in the broader OECD negotiations.

Not on the official agenda - the IMF succession.

On the sidelines of the G7 meeting Bank of England Governor Mark Carney, who is considered a leading candidate to replace Christine Lagarde, is expected to meet G7 finance ministers and central bankers.