France, U.S. declare digital tax truce
Jan. 21, 2020 3:39 AM ETAlphabet Inc. (GOOG), GOOGL, AAPL, META, AMZNAAPL, GOOG, AMZN, META, GOOGLBy: Yoel Minkoff, SA News Editor171 Comments
- Averting another trade war - for now - the U.S. and France have agreed to put aside their digital tax dispute until the end of 2020.
- Negotiations at the OECD will continue during that period as France postpones the levy and the U.S. delays retaliatory tariffs.
- The measure had imposed a 3% tax on digital revenues of companies like Google (GOOG, GOOGL), Apple (NASDAQ:AAPL), Facebook (NASDAQ:FB) and Amazon (NASDAQ:AMZN) - which have more than €750M in global revenue, including at least €25M in France - while the U.S. has threatened to place duties of up to 100% on $2.4B of French imports including wine.