And reconvening today, France and the US have come to an agreement on the digital tax. France has shifted its focus from taxing big digital companies to finding a global solution with the US.
France announced on Wednesday that it reached a deal with the U.S. on finding an international solution to the digital tax issue.
“This working basis should mean that we can get to work on the details next week to look at the different options for the taxation of digital activities.”
Instead of focusing on taxing big tech companies, like Facebook and Google, France agreed to work with the U.S. on rewriting international tax rules for the digital age.
La Maire and Treasury Secretary Steven Mnuchin hammered out a series of written proposals that they’ll discuss with over 100 governments next week.
Other countries, however, like the U.K, have said they’ll roll out their digital tax this year, before reaching an international solution.
“We plan to go ahead with our digital services tax in April … It is a proportionate tax and it is a tax that is deliberately designed as a temporary tax. So it will fall away once there is an international solution.”
France had also implemented its digital tax, but later suspended it until the end of this year after the U.S. threatened to impose tariffs on French goods.
————————–
Subscribe to NTD News:
For more news and videos visit ☛
Follow us on Twitter ☛
Add us on Facebook ☛
Support NTD: