CMA CGM open to paying more tax to plug French budget hole, CEO says
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PARIS, Sept 23 (Reuters) -Shipping group CMA CGM is ready to contribute to any windfall tax on major companies that the new French government may adopt to plug a hole in the state budget, its chief executive said on Monday.
Newly-appointed Prime Minister Michel Barnier hinted he may need to exceptionally widen a corporate tax on unusually high profits to rein in France's budget deficit as it spirals towards 6% of GDP.
Asked about his view of this as the head of one of France's largest international businesses, CMA CGM Chief Executive Rodolphe Saade said: "We'll be there."
His comments contrast with the view of lobby groups and similar organisations which have warned that major companies might choose to leave the country if faced with a higher fiscal burden.
The unlisted shipping giant has seen its profit soar after container prices spiralled during the COVID-19 pandemic and as tensions in the Red Sea linked to the Gaza war resulted in longer freight routes.
"If there is a solidarity contribution for companies that have made profits, CMA CGM will take its share," Saade, a Franco-Lebanese billionaire, said.
However, Saade reiterated his opposition to a change to a tonnage tax regime for shipping firms, as called for by some French politicians, as this would penalise CMA CGM compared with competitors in Asia and elsewhere in Europe.
Reporting by Gus Trompiz, writing by Michal Aleksandrowicz; editing by Tassilo Hummel and Kirsten Donovan
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