France: tech giants to pay tech tax digitally from tomorrow even if no deal is reached

French Finance Minister Bruno Le Maire told journalists after meeting with his U.S. counterpart Steven Mnuchin that they had failed to agree on the revenue threshold for the digital tax.<br><br><br><br>France has decided to impose the tax after efforts to reach a deal on a global tax on digital giants with the OECD hit a roadblock.<br><br><br><br>Le Maire also added that he was optimistic about the chances of finding an agreement during the OECD’s ministerial meeting in Washington next month.<br><br><br><br>France didn’t meet with the U.S. expecting the Trump administration to ease sanctions in exchange for cancelling the tax, it is instead asking for Washington’s support in reaching a global agreement.<br><br><br><br>France’s digital service tax was initially forecasted to raise €500m this year but companies will only be charged 0.5% at end-2020.<br><br><br><br>Originally tweeted by Fabien Zamora (@FabienZamora) on 6 December 2019.