May 30, 2017 / 4:14 PM / 2 months ago

Germany, France plan common corporation tax system - Schaeuble

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German Finance Minister Wolfgang Schaeuble arrives for the G7 Financial ministers meeting in the southern Italian city of Bari, Italy, May 12, 2017.Alessandro Bianchi

BERLIN (Reuters) - Germany and France hope to agree proposals for a common corporation tax system before the French National Assembly elections in June, German Finance Minister Wolfgang Schaeuble said at a Berlin tax conference on Tuesday.

"We're having another go at agreeing not just common principles on corporate taxation, but a common system," he said, adding that he hoped proposals would be in place before France votes for a new parliament in early June. "Time is short."

Germany had to remain vigilant in the face of growing international tax competition, he added. While Germany's corporation tax was currently quite competitive, "much is happening" elsewhere that could change this.

Reporting By Gernot Heller; Writing by Thomas Escritt; Editing by Alison Williams

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