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France Tech Tax Hits Trump French Goods Tax
USA has announced additional 25 percent import tax on French goods like fashion items and cosmetics. The implementation date for new import tax on French goods delayed for 180 days. Macron 3 percent tax on digital services has also been deferred which would affect USA tech companies like Google Apple and Facebook.
France has argued that digital services companies make massive income from its marketplace but the digital services companies pay little if any tax. USA says its companies will suffer most from new digital services tax.
The European Union EU says it will impose a digital services tax if current OECD tax negotiations flounder. The OECD is trying to negotiate with all relevant countries including USA and France to develop a multilateral solution for taxing digital services.
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