Technology, Politics

November 26, 2020

France demands tech giants to pay tax

Source: Unsplash (Eddie Junior) 

The Gist

France has passed a tax law requiring giants like Amazon, Google, and Facebook to pay a 3% tax of any revenue generated in France. 

The List

  • The French government had been in negotiations with the US government to find an alternative to taxing tech giants, most of which are located in the US. 
  • Negotiations have failed, prompting the French government to move forward with its tax plan. 
  • It has sent tax payment notices to all companies who meet the criteria (earning more than 750 million euros annually and 25 million euros in France). 
  • Some government officials fear retaliation from Trump administration in forms of sanctions on French goods. 
  • Others believe that the incoming Biden administration will prevent or undo such sanctions. 

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