The US and France reportedly reach a deal over ‘digital services’ tax

We don’t know the details of the yet, but according to Macron, that pay the three percent tax will be able to deduct the amount after an deal on how to tax internet is reached. The tax will apply to with at least 750 million euros ($845 million) in global revenue sales and digital sales of 25 million euros in . It will affect an estimated 30 US-based businesses, including and , as well as British, Chinese, French and German companies.

Macron has faced pressure over criticism that giants don’t pay enough in taxes, a sentiment that’s felt in Germany and Italy, as well as France. While companies operating in Europe pay over 20 percent in taxes, it’s estimated that tech giants pay less than half of that. did agree to pay 500 million euro in back taxes to France earlier this year, but the need for legislation still stands. “We are pushing for international on this,” Macron said. “It is not against any company in particular, it’s just to solve the problem.”

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