Tech Tax: France ignores US threats on tech tax

France won’t back off from its planned tax on companies like Facebook Inc. and Alphabet Inc.’s 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 three per cent tax on global tech companies with at least €750 million ($845 million, Dh3.1 billion) in worldwide revenue and digital sales totalling €25 million in France. The US had earlier said that 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 because of the country’s alleged theft of intellectual property.

France said the digital tax is in keeping with international rules, and that it won’t accept the use of trade tools to try to thwart it. “I deeply believe that between allies we can and must resolve our differences in ways other than with threats,” Finance Minister Bruno Le Maire said in a speech in the Senate. “France is a sovereign state that decides its tax measures with sovereignty and will continue to take sovereign tax decisions.”

Read more at: France ignores US threats on tech tax 

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