Posted on 08/26/2019 9:12:35 AM PDT by yesthatjallen
French President Emmanuel Macron said Monday that his country and the U.S. have reached a "very good agreement" on France's digital tax.
Macron said at a joint press conference with President Trump following the Group of Seven summit in France that when an international tax on digital services is established, France will repeal its national tax, and companies that have paid France's digital tax "will be reimbursed."
"The idea is that we need to find a joint agreement in order to address joint international problems," Macron said. "And the situation right now is very negative, and the international tax system definitely needs to be modernized, and I think we will work together in a spirit of cooperation on this."
The Organization of Economic Cooperation and Development, an intergovernmental economic organization, is aiming to develop a solution to the tax challenges of the digital economy by the end of 2020.
France earlier this year enacted a 3-percent tax on the annual revenues from digital services of large companies, including prominent U.S. tech businesses. The U.S. Trade Representative has launched an investigation into the tax to determine whether it is discriminatory or restricts U.S. commerce.
U.S. tech companies such as Amazon, Facebook and Google have argued that France's law unfairly targets them.
SNIP
Too bad it benefits Amazon, Facebook, and Google.
Sounds like an International version of VAT.
Non-starter
Trump’s not the first to be outsmarted by the French, no big deal.
there’s no such thing as an “international tax”, so this whole thing is complete bullshit since nothing will change in France for U.S. digital companies until this mythical “international tax” is implemented (presumably by an equally mythical “International Taxation Authority”) ... my guess is this is just Trump’s way to screw the big U.S. fascist digital companies like google, facebook, and twitter while pretending like he made a “deal” ...
In other words, Trump saves our bacon for now, but when the next Democrat is in office, we'll be hit with a tax that cannot now exist in this country.
“when an international tax on digital services is established”
“International tax” would require an “international government”.
Eff that.
Thanks yesthatjallen.
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