White House to investigate whether proposed French tech tax 'unfairly targets' U.S. firms. By PaulWisemanAP.
FILE - In this Jan. 17, 2017, file photo, the Facebook logo is displayed in a start-up companies gathering at Paris' Station F. The White House is launching an investigation into France’s proposed tax on internet giants like Google, Amazon and Facebook, a move that could lead to U.S. taxes on French imports. U.S. Trade Representative Robert Lighthizer expressed concern that the tax, expected to be passed by the French Senate Thursday, July 4, 2019, "unfairly targets American companies.
U.S. Trade Representative Robert Lighthizer expressed concern that the tax, expected to be passed by the French Senate Thursday, “unfairly targets American companies.” The French digital services tax would impose a 3% annual levy on French revenues of digital companies with yearly global sales worth more than 750 million euros and French revenue exceeding 25 million euros.The bill aims to stop multinationals from avoiding taxes by setting up headquarters in low-tax EU countries. Currently, the companies pay nearly no tax in countries where they have large sales like France.
The tech industry warns it could lead to higher costs for consumers. The levy could affect U.S. companies including Airbnb and Uber as well as those from China and Europe.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Trump administration launches unfair trade practices probe of French tech taxThe dispute has been simmering for months as France and other countries contemplate taxes on services offered by Google, Facebook, Amazon and other companies.
Read more »
Appeals court dismisses emoluments clause case against Trump involving Washington hotelJUST IN: Federal appeals court dismisses case that argued President Trump is violating the Constitution by accepting profits through foreign and domestic officials who stay at his Washington hotel.
Read more »
Washington D.C. mayor wants Donald Trump to reimburse $1.7 million for July 4th security costsThe city also paid $7.3 million for security costs at Trump's inauguration.
Read more »
British ambassador to Washington quits after spat over leaked memosBritain's ambassador to Washington resigned on Wednesday after Donald Trump...
Read more »
Trump Angry Iran Is Breaking Deal Trump Already BrokeDonald Trump is in the position of negotiating a deal with Iran without having a clear understanding of what this even means. jonathanchait writes
Read more »
Police drop probe into French ambassador sexual assault claims'An offence was committed, but I found the foreign ministry's response to be proportional to the seriousness of what happened,' prosecutor says. Robby Judes was fired after two women said he groped them during an official visit to New Caledonia
Read more »