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France imposes fees on digital technology giants

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The French government decided to impose fees on giant digital companies early next year, without waiting for an agreement to be concluded within the European Union, in order to secure revenues to finance the social measures recently announced by President Emmanuel Macron. Finance Minister Bruno Le Maire took a path different from his previous strategy, after he had defended the adoption of a European fee on digital companies: Google, Apple, Facebook, Amazon and other major companies of this type. Minister Le Maire explained in a joint press conference in Paris with the Russian Minister of Economic Development, Maxim Oreshkin, that the tax will be implemented on the first of next January, and throughout the year 2019, at an estimated value of 500 million euros. Prime Minister Edouard Philippe confirmed in an interview with Le Zico newspaper that his government hopes for 500 million euros to finance the social measures announced by Macron, the cost of which is estimated at about ten billion euros. For more on Euronews: EU taxes on "links" threaten to stop the "Google News" service Minister: France will impose taxes on giant digital companies in 2019 France is pushing to impose the new so-called “GAFA tax,” which is named after Google, Apple, Facebook, and Amazon, to ensure that global giant technology companies pay a fair share of taxes on their huge business operations in Europe. With this decision, France has moved forward alone in terms of imposing taxes on major digital companies that are often accused of obtaining illegal tax benefits at times and tax evasion at other times. It is noteworthy that it is still unclear how the French tax will work, what it will impose, and how much each company can be expected to pay. France and Germany agreed earlier this month to introduce a new joint measure in 2021, which would give the Organization for Economic Cooperation and Development time to work on a new global solution, as the organization, which includes the world's major economies, is working on a proposal to develop a new international plan to regulate taxes on technology companies.

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