BREAKING: France Orders Tech Giants to Pay Digital Tax

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BREAKING: France Orders Tech Giants to Pay Digital Tax

Photo: Reuters

PARIS (Reuters) - France's finance ministry has sent out notices to big tech companies liable for its digital service tax to pay the levy as planned in December, the ministry said on Wednesday.

France suspended collection of the tax, which will hit companies like Facebook and Amazon early this year while negotiations were underway at the Organisation for Economic Cooperation and Development (OECD) on an overhaul of international tax rules.

The finance ministry has long said it would collect the tax in December as planned if the talks proved unfruitful by then, which is what happened when the nearly 140 countries involved agreed last month to keep negotiating until mid 2021.

France last year applied a 3% levy on revenue from digital services earned in France by companies with revenues of more than 25 million euros there and 750 million euros worldwide.

Original article:

https://www.investing.com/news...



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