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France: New digital tax in the works

By  |  March 3, 2019
France plans to slap a 3% revenue tax on 30 Internet giants, including Google, Amazon, Facebook and Apple, starting in January, according to Finance Minister Bruno Le Maire on Sunday.
Declaring the digital tax as “fiscal justice,” Le Maire told Le Parisien newspaper that potentially $570 million could be raised for France. Any company with global revenue of more than $853 millon and French sales above $28 million would be taxed 3% of revenue.

The cabinet will discuss the proposal Wednesday before it is presented to parliament. “A taxation system for the 21st century has to built on what has value today, and that is data,” Le Maire said.

He noted the digital giants pay about 14 percentage points less tax than European small- and medium sized companies.

“They pour their products onto markets without even paying value-added tax, and hardly any other tax at all, it is intolerable. On the same turnover they should pay the same tax,” Le Maire said.

Full Content: UPI

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