Talks between France and the United States on taxing digital companies 'rem...
FILE PHOTO: French Finance Minister Bruno Le Maire speaks during his New Year address to France's economic actors and the press at the Bercy Finance Ministry in Paris, France, January 7, 2020. REUTERS/Charles Platiau
Le Maire said France’s target was still to impose a minimum tax rate on companies that at the moment pay no levies or too little, in line with a proposal put forward last year by the Organisation for the Economic Cooperation and Development . As many of those firms are U.S. companies, Washington has threatened to impose taxes on key French products in response. The U.S. Trade Representative’s office said last month the French tax was “inconsistent with prevailing principles of international tax policy, and is unusually burdensome for affected U.S. companies,” including Alphabet Inc’s Google, Facebook Inc, Apple Inc and Amazon.com Inc.
Le Maire said the truce agreed by the two presidents was a “very positive starting point” but now Paris and Washington had to reach a compromise on how to tax digital activities at global level.
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