- General
- March 3, 2019
- 4 minutes read
France Plans 5% Digital Tax For Tech Giants
French Finance Minister Bruno Le Maire Photo: Aron Urb (EU2017EE) The French government has plans to tax revenues of about…
 |
| French Finance Minister Bruno Le Maire
Photo: Aron Urb (EU2017EE)
|
The French government has plans to tax revenues of about 30 internet giants, aiming for companies with at least 750 million euros in global revenue and more than 25 million euros of French revenue, according to French Finance Minister Bruno Le Maire in a statement to the Le Parisien newspaper. Le Maire says the tax would target some 30 companies including American, Chinese, German, Spanish, British, a French firm and several companies with French origins acquired by foreign companies.
The paper lists companies including Google, Amazon, Facebook, Apple, Uber, Airbnb, Booking Holdings and French ad targeting company 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. The French Finance minister told the newspaper that a 3% tax rate on the French revenue of large internet companies could generate up to 500 million euros per year.
 |
| French president Emmanuel Macron
Photo: OECD/Victor Tonelli
|
The French government intends to tax revenues generated from local targeted ads, marketplaces and re-selling of personal data for ad purposes, according to the report. Le Maire will present a draft law concerning this to the French cabinet n Wednesday, before an official presentation to the parliament for final decision.
