France hoping to resolve digital tax spat this week: Le Maire


PARIS (Reuters) – French minister Bruno Le Maire said he hoped to resolve a row with the over a planned French digital tax by Wednesday evening of this week.

“We are ready to make steps toward the United States, and we have already proposed a certain number of measures. We hope to reach a resolution by Wednesday,” Le Maire told LCI television on Monday, adding he would meet U.S. counterparts at the Davos World Economic forum in Switzerland this week.

France decided in July to apply a 3% levy on revenue from digital services earned in France by firms with revenues of more than 25 million euros ($28 million) in France and 750 million euros worldwide. Washington has threatened to impose taxes on key French products in response.

Article continues below Advertisement...

Last week, the French government said the United States risked a proliferation of national taxes on giants if President Donald rejected new international rules for taxing digital companies at the World Economic Forum.

Le Maire wants a U.S. commitment in Davos to the international tax reform and is also pressing Washington to lift a of tariffs on French champagne, cheese and luxury handbags made in retaliation for France’s own digital tax.

Agreement was close on a universal tax proposal drawn up by the Organisation for Economic Cooperation and Development, Le Maire said, but Washington needed to take the “last step” to reach a compromise.

Disclaimer: Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, ) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Media doesn`t bear any responsibility for any trading you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial , it is one of the riskiest investment forms possible.



Please enter your comment!
Please enter your name here