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France pushes forward alone with new tax on big tech companies

Dec 19, 2018 by The Passage Team
France pushes forward alone with new tax on big tech companies

France is to press ahead alone with a new tax on big technology companies after struggling to secure agreement for a EU-wide levy.

The French finance minister, Bruno Le Maire, said he believed the tax, which will take effect from 1 January, would raise €500m (£450m) in its first year.

France has been pushing for a EU GAFA tax – named after Google, Apple, Facebook, Amazon – but faced opposition from countries including Ireland, which hosts the European headquarters of several technology companies, including Google and Apple.

The Organisation for Economic Co-operation and Development (OECD), a group of major world economies, has been working on proposals for an international scheme that would regulate taxation on technology companies.

Source: The Guardian

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