Friday July 10, 2020

France not backing off on tech tax despite US threats

The US has said it will examine whether the tax would hurt its tech firms, using the so-called 301 investigation, the same tool President Donald Trump deployed to impose tariffs on Chinese goods

12th July, 2019
French Senate backs tax bill. Pic: iStock

France will not back off from its planned tax on companies like Facebook and Google even after the US suggested it may use trade tools against the levy.

The French Senate passed a bill on Thursday to impose a 3 per cent tax on global tech companies with at least €750 million in worldwide revenue and digital sales totalling €25 million in France.

The US said on Wednesday that it would examine whether the tax would...

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