France's digital service tax is designed to prevent tech companies from dodging taxes by putting headquarters in low-tax European countries.
The US on Monday threatened to impose tariffs of up to 100% on $2.4 billion in French goods in retaliation for a digital services tax it says is discriminatory.The French tax is designed to prevent tech companies from dodging taxes by putting headquarters in low-tax European countries. It would impose a 3% annual levy on French revenues of digital companies with yearly global sales worth more than $830 million and French revenue exceeding $28 million.
USTR Robert Lighthizer warned that Washington is also considering widening the investigation to look into similar taxes in Austria, Italy, and Turkey.
Source: News Formal (newsformal.com)
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