French Finance Minister Bruno Le Maire said France and the US has agreed today on the way to push digital taxation at the OECD level. The bilateral dispute between the two countries on the issue is set aside. The development reduces the risk of US retaliation on France’s digital taxes.

“We had long talks this morning with the US Treasury Secretary and the OECD Secretary General, and I am happy to announce to you that we have found an agreement between France and the United States, providing the basis for work on digital taxation at the OECD,” Le Maire said. “It’s good news, because it reduces the risk of American sanctions and opens up the prospect of an international solution on digital taxation.”

A series of proposals were hammered out for redrafting of international tax rules. The proposals will be put to OECD next week for discussions between 137 governments.

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