Tech giants will now pay more tax in France, after the country decided not to wait for the rest of the EU to introduce the measure. The so-called GAFA tax targeting major digital firms comes into force on January 1.
The French government hopes to raise €500 million ($572 million) with levies specifically aimed at multinational tech firms, including Google, Apple, Facebook, and Amazon, Finance Minister Bruno Le Maire said, announcing the move in December. He stressed that “the tax will be introduced whatever happens.”
Paris has been pushing for what it sees as fairer taxation of the big-tech firms in the European Union. Progress on the issue has stalled in Brussels, as the 28-member bloc is divided on imposing the levies on Silicon Valley giants. Any changes must receive unanimous approval by member states.
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The French government hopes to raise €500 million ($572 million) with levies specifically aimed at multinational tech firms, including Google, Apple, Facebook, and Amazon, Finance Minister Bruno Le Maire said, announcing the move in December. He stressed that “the tax will be introduced whatever happens.”
Paris has been pushing for what it sees as fairer taxation of the big-tech firms in the European Union. Progress on the issue has stalled in Brussels, as the 28-member bloc is divided on imposing the levies on Silicon Valley giants. Any changes must receive unanimous approval by member states.
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