TECHNOLOGY

US launches investigation into France’s planned tax on tech giants

France's President Emmanuel Macron speaks with U.S. President Donald Trump during a meeting at the G20 leaders summit in Osaka. (File photo: Reuters)

US President Donald Trump on Wednesday ordered an investigation into France’s planned tax on digital services that will hit American tech giants especially hard.

“The United States is very concerned that the digital services tax which is expected to pass the French Senate tomorrow unfairly targets American companies,” US Trade Representative Robert Lighthizer said in a statement.

The proposed three percent tax on total annual revenues of companies providing services to French consumers only applies to the largest tech companies, “where US firms are global leaders,” the USTR said.

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Last Update: Thursday, 11 July 2019 KSA 01:07 - GMT 22:07
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