TECHNOLOGY

US, France reach deal on taxing online companies

The tax had prompted threats from US President Donald Trump of heavy tariffs on French wine. (Screen grab)

French President Emmanuel Macron said on Monday that France and the US have reached a “very good agreement” defusing tensions over a French tax on online giants like Google.
 
The tax had prompted threats from US President Donald Trump of heavy tariffs on French wine.
 
Speaking Monday alongside Trump, Macron said they made “considerable headway in the spirit of unity” at the Group of Seven summit in Biarritz, France.
 
Macron said France would reimburse companies who pay the tax once an international tax deal is in place to replace the three percent French tax on French revenues of big online companies. It’s aimed at reducing tax avoidance for digital multinationals.

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Last Update: Monday, 26 August 2019 KSA 18:06 - GMT 15:06
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