Despite threats with US taxes, France will impose digital taxes on major technology companies

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Saudi News Saudi Arabia News – Riyadh: Despite threats with American taxes … France will impose digital taxes on major technology companies. Source of the news – Saudi Arabia -cnn with details of the news despite threats of American taxes .. France will impose digital taxes on major technology companies:

London, UK (CNN) – France will impose on major tech companies to pay tax for their digital services, in a move that could prompt President Donald Trump to retaliate, and the next US administration to start another trade battle.

A 3% tax was imposed on revenues from digital services in France last year, however, the French government suspended collections while negotiations on a broader reform of the global tax system in the Organization for Economic Cooperation and Development (OECD), without a solution so far.

“The companies have received the tax notice for this year,” the Finance Ministry said in a statement on Wednesday. Google, Facebook and Amazon are among the American technology companies that will have to pay the tax that will apply to companies whose global revenues exceed 750 million euros, or 894 million dollars.


The move paves the way for a transatlantic clash before Trump leaves office, as his administration – which withdrew from the Organization for Economic Cooperation and Development talks in June / two islands – has pledged to respond if France goes ahead with the tax by imposing retaliatory duties on $ 1.3 billion in French goods. , Including handbags and cosmetics, starting January 6.

This could put the next US administration in a difficult position as it seeks to address the economic fallout from the Corona pandemic. President-elect Joe Biden has pledged to rebuild relationships with key allies. However, Democrats have previously opposed such taxes on digital services, which they claim unfairly target US companies.

French Finance Minister Bruno Le Maire said earlier this week that he hoped to persuade Biden to re-participate in the OECD talks so that an agreement can be reached, adding that the French government has consistently said that taxes will come into effect in December if no agreement is reached. To an agreement.

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