Le Maire: French tax on internet mammoths could yield 500 million euros for every year

“A taxation system for the 21st century has to built on what has value today, and that is data,” French Finance Minister Bruno Le Maire tells today.

The paper records Google, Amazon, Facebook, Apple, Uber, Airbnb, Booking and French internet promoting pro Criteo as targets.

Le Maire will show a draft law to the bureau on Wednesday before it is exhibited to parliament.

A three percent tax on the French revenue of large internet companies could yield 500 million euros ($568.3 million) per year, French Finance Minister Bruno Le Maire said on Sunday.

Le Maire told, the tax is aimed at companies with worldwide advanced income of no less than 750 million and French income of in excess of 25 million euros.

He said the tax would target some 30 companies, mostly American, but also Chinese, German, Spanish and British, as well as one French firm and several firms with French origins that have been bought by foreign companies.

The paper recorded Google, Amazon, Facebook and Apple (the four alleged “GAFA” companies) yet in addition Uber, Airbnb, Booking and French online publicizing expert Criteo as targets.

“A taxation system for the 21st century has to built on what has value today, and that is data,” Le Maire said.

He included it is additionally a matter of monetary equity, as the digital mammoths pay somewhere in the range of 14 rate points less tax than European little and-medium sized companies.

Fairer taxes are a key interest of the “yellow vest” challenges seen crosswise over France in the previous three months.

Le Maire said the tax would target platform companies that earn a commission on putting companies in touch with customers.

Organizations selling their products all alone sites would not be focused on, for example, French retailer Darty which sells TVs and washing machines via its website.

Be that as it may, companies, such as Amazon gaining cash as a digital intermediary between a producer and a customer would need to pay.

The tax would likewise focus on the offers of individual information for publicizing purposes.

In order to avoid penalizing companies who already pay taxes in France, the amount paid will be deductible from pretax income, Le Maire said.

He will introduce a draft law to the bureau on Wednesday before it is presented to parliament.

France has driven a push for firms with significant digital revenue in the European Union to settle greater government obligation at source, yet has made little progress as Germany is cool to the idea, while part states with low corporate tax rates, such as Luxembourg and Ireland firmly oppose the proposal.

In an interview with weekly Journal du Dimanche, Carrefour CEO Alexandre Bompard said it is high time to end the fiscal imbalance between brick-and-mortar firms like his and the U.S. and Chinese internet platform companies.

“They pour their products onto markets without even paying value-added tax, and hardly any other tax at all, it is intolerable. On the same turnover they should pay the same tax,” he said.

“A taxation system for the 21st century has to built on what has value today, and that is data,” French Finance Minister Bruno Le Maire tells today.

The paper records Google, Amazon, Facebook, Apple, Uber, Airbnb, Booking and French internet promoting pro Criteo as targets.

Le Maire will show a draft law to the bureau on Wednesday before it is exhibited to parliament.

A three percent tax on the French revenue of large internet companies could yield 500 million euros ($568.3 million) per year, French Finance Minister Bruno Le Maire said on Sunday.

Le Maire told, the tax is aimed at companies with worldwide advanced income of no less than 750 million and French income of in excess of 25 million euros.

He said the tax would target some 30 companies, mostly American, but also Chinese, German, Spanish and British, as well as one French firm and several firms with French origins that have been bought by foreign companies.

The paper recorded Google, Amazon, Facebook and Apple (the four alleged “GAFA” companies) yet in addition Uber, Airbnb, Booking and French online publicizing expert Criteo as targets.

“A taxation system for the 21st century has to built on what has value today, and that is data,” Le Maire said.

He included it is additionally a matter of monetary equity, as the digital mammoths pay somewhere in the range of 14 rate points less tax than European little and-medium sized companies.

Fairer taxes are a key interest of the “yellow vest” challenges seen crosswise over France in the previous three months.

Le Maire said the tax would target platform companies that earn a commission on putting companies in touch with customers.

Organizations selling their products all alone sites would not be focused on, for example, French retailer Darty which sells TVs and washing machines via its website.

Be that as it may, companies, such as Amazon gaining cash as a digital intermediary between a producer and a customer would need to pay.

The tax would likewise focus on the offers of individual information for publicizing purposes.

In order to avoid penalizing companies who already pay taxes in France, the amount paid will be deductible from pretax income, Le Maire said.

He will introduce a draft law to the bureau on Wednesday before it is presented to parliament.

France has driven a push for firms with significant digital revenue in the European Union to settle greater government obligation at source, yet has made little progress as Germany is cool to the idea, while part states with low corporate tax rates, such as Luxembourg and Ireland firmly oppose the proposal.

In an interview with weekly Journal du Dimanche, Carrefour CEO Alexandre Bompard said it is high time to end the fiscal imbalance between brick-and-mortar firms like his and the U.S. and Chinese internet platform companies.

“They pour their products onto markets without even paying value-added tax, and hardly any other tax at all, it is intolerable. On the same turnover they should pay the same tax,” he said.

Add Comment