US launches investigation into France’s plan to tax tech companies

epa07158839 US President Donald J. Trump visits the Suresnes American Cemetery as part of the Paris commemoration ceremony for the Centenary of the WWI Armistice of 11 November 1918, in Suresnes, France, 11 November 2018. World leaders have gathered in France to mark the 100th anniversary of the First World War Armistice with services taking place across the world to commemorate the occasion. EPA-EFE/CHRISTIAN HARTMANN / POOL MAXPPP OUT

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US President Donald Trump has ordered an investigation into France’s planned tax on tech giants – a move that could result in retaliatory tariffs.

The US inquiry could pave the way for punitive tariffs, which Trump has imposed on several occasions since taking office.

The French parliament is expected to approve the new tax on Thursday.

It will target firms such as Google and Facebook with a 3% levy on revenue made inside France.

The tax is expected to raise about €400m this year.

Any digital company with revenue of more than €750m – of which at least €25m is generated in France – would be subject to the tax.


Via France 24

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