Finally, Le Maire wrote to US Trade Representative Robert Lighthizer to urge him to not impose sanctions on France. Virtual economy, real taxFrance last year approved a new levy on tech firms as international efforts dragged on to find a new model to tax their revenues earned via online sales and advertising. Tech companies often pay little in many countries owing to their lack of physical presence. Washington says that US companies such as Google, Apple, Facebook and Amazon have been singled out by the French tax. Le Maire urged Washington "to work towards a compromise at the OECD to avoid extreme situations that benefit no one."

Source: The Local January 06, 2020 11:03 UTC