Listen: Digital Tax Passed In France Is Aimed At U.S. Tech Giants
"Support for this podcast and the following message come from Google from Connecticut California from Mississippi to Minnesota. Millions of businesses are using Google tools to grow online learn. How Google is supporting businesses in your state at Google Dot Com? MM slash economic impact. The U._S. has opened an investigation into a new French tax on digital services. The White House says the tariffs unfairly target American tech companies the French hope their new tax will encourage other countries to take on big tech. But there are concerns that all that could spark a trade war between France and the U._S.. Jake Sagana real reports from Paris previous U._S.. Investigations into Chinese and European Union trade practices have led the White House to impose retaliatory tariffs president trump criticized the new digital tax a day before the French Senate voted on the measure but it passed anyway Google Amazon facebook and apple or Gotha as the French call. The Group of American tech giants are among the companies France will slap with. With a tax bill digital companies that make twenty five million euros a year in France and seven hundred fifty million globally. We'll have to pay three percent. Tax On revenue is UCLA. Hopefully the French Finance Minister Bruno to math defending the new policy. Elsie at the Senate said allies should settle disputes other than by threat. The mayor said France will abolish the digital tariff once there are multilateral agreements to tax tech giant's globally. I called on the U._S.. Administration and my counterpart Stephen. Steven Mnuchin to accelerate the job that we are currently making within the g seven and within the O._C._D.. To find an international solution on digital taxation the French government estimates it will rake in up to six hundred fifty million euros a year even if big tech companies have offices in France they have largely avoided paying taxes here by establishing European headquarters in countries with low corporate tax rates such as Ireland and the Netherlands France has previously tried to spearhead digital tax at the European."