France Digital Tax

US tech giants could benefit from the agreement of the Group of Seven rich countries' agreement to create a global minimum 15 percent corporate tax rate if the final deal also scraps increasingly popular digital services taxes, according to industry lobbyists.

An international debate over how countries tax big US technology companies such as Google, Amazon, and Facebook is heating up, presenting a challenge for US President Joe Biden's new administration.

France's finance ministry has sent out notices to big tech companies liable for its digital service tax to pay the levy as planned in December.

The European Union should push ahead with its own digital tax in the first quarter of 2021 if broader efforts to find an international solution do not bring a breakthrough this year, the French finance minister said on Friday.

Facebook's French subsidiary has agreed to pay more than EUR 100 million ($118 million) in back taxes, including a penalty, after a ten-year audit of its accounts by French tax authorities, the company said on Monday.

The US on Friday unveiled heavy import duties on France in retaliation for the country's digital tax on American tech giants, but will hold off on collecting the fees to allow time for the dispute to be resolved.

Britain, France, Italy and Spain suggested a "phased approach" to global digital taxation talks in a joint letter to the US treasury secretary last week, which they said could open the way for a deal this year.

France and the US locked horns Thursday over taxing digital giants such as Google and Facebook, after Washington said it was breaking off talks aimed at establishing a global framework for making the companies pay larger levies where they operate.

US President Donald Trump's administration on Tuesday announced investigations into foreign digital services taxes it says are aimed squarely at American tech firms.

Frustrated with the lack of global progress because of opposition from the United States where the tech giants are based, some countries like France introduced their own digital tax last year. Italy, Britain, and Spain have also either already introduced their own digital taxes or plan to do so.

Facebook founder and CEO Mark Zuckerberg on Friday backed moves by the OECD group of free-market economies to reform the way online giants are taxed worldwide, even if that means companies like his own paying more to national governments.

French Finance Minister Bruno Le Maire is optimistic of reaching a deal on a global tax on digital companies, despite an initial failure to agree one with the United States.

Paris and Washington have two weeks to settle a disputed French tax proposal on multinational tech giants, the French finance minister said Tuesday after a "long discussion" with his US counterpart.

Finance Minister Bruno Le Maire called Monday on the United States to not follow through on threats to impose sanctions on France in a dispute over taxation of tech giants and warned of retaliation.

British Prime Minister Boris Johnson said he would press ahead with new taxes on U.S internet giants like Facebook and Google, putting him at odds with U.S. President Trump who has threatened retaliation against France over its digital tax plans.

US tech giants could benefit from the agreement of the Group of Seven rich countries' agreement to create a global minimum 15 percent corporate tax rate if the final deal also scraps increasingly popular digital services taxes, according to industry lobbyists.

An international debate over how countries tax big US technology companies such as Google, Amazon, and Facebook is heating up, presenting a challenge for US President Joe Biden's new administration.

France's finance ministry has sent out notices to big tech companies liable for its digital service tax to pay the levy as planned in December.

The European Union should push ahead with its own digital tax in the first quarter of 2021 if broader efforts to find an international solution do not bring a breakthrough this year, the French finance minister said on Friday.

Facebook's French subsidiary has agreed to pay more than EUR 100 million ($118 million) in back taxes, including a penalty, after a ten-year audit of its accounts by French tax authorities, the company said on Monday.

The US on Friday unveiled heavy import duties on France in retaliation for the country's digital tax on American tech giants, but will hold off on collecting the fees to allow time for the dispute to be resolved.

Britain, France, Italy and Spain suggested a "phased approach" to global digital taxation talks in a joint letter to the US treasury secretary last week, which they said could open the way for a deal this year.

France and the US locked horns Thursday over taxing digital giants such as Google and Facebook, after Washington said it was breaking off talks aimed at establishing a global framework for making the companies pay larger levies where they operate.

US President Donald Trump's administration on Tuesday announced investigations into foreign digital services taxes it says are aimed squarely at American tech firms.

Frustrated with the lack of global progress because of opposition from the United States where the tech giants are based, some countries like France introduced their own digital tax last year. Italy, Britain, and Spain have also either already introduced their own digital taxes or plan to do so.

Facebook founder and CEO Mark Zuckerberg on Friday backed moves by the OECD group of free-market economies to reform the way online giants are taxed worldwide, even if that means companies like his own paying more to national governments.

French Finance Minister Bruno Le Maire is optimistic of reaching a deal on a global tax on digital companies, despite an initial failure to agree one with the United States.

Paris and Washington have two weeks to settle a disputed French tax proposal on multinational tech giants, the French finance minister said Tuesday after a "long discussion" with his US counterpart.

Finance Minister Bruno Le Maire called Monday on the United States to not follow through on threats to impose sanctions on France in a dispute over taxation of tech giants and warned of retaliation.

British Prime Minister Boris Johnson said he would press ahead with new taxes on U.S internet giants like Facebook and Google, putting him at odds with U.S. President Trump who has threatened retaliation against France over its digital tax plans.