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US will pay to the French for “digital tax”

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US will pay to the French for “digital tax”
December 03
13:00 2019

U.S. Trade Representative Robert Lighthizer has reported that the United States is preparing to impose duties on French goods worth $ 2.4 billion. It is possible that the rate will be 100%. The French digital tax imposed on American high-tech companies caused such a decision.

The trade representative said that the digital tax regime discriminated against US companies, so the United States was ready to react to the decision of France. There is a preliminary list of goods that will be highly taxed. It includes wine, cheese, luxury goods and cosmetics.

In mid-summer, the U.S. Trade Commission launched an investigation into the French digital services tax. The trial lasted three months; as the result, it was concluded: the tax had been introduced to discriminate against American high-tech companies.

Perhaps similar investigations will be conducted regarding taxes on digital services in Italy and Austria.

We recall that the story began when President Emmanuel Macron signed into law a 3% tax on annual revenue. The law also applies to giants such as Apple, Facebook and Google.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company
UFT Group

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