France to implement its digital tax in absence of international global tax treaty
France is keen to go ahead on its plans to tax digital giants this year whether or not there is an international deal on International digital tax, France Finance Minister Bruno Le Maire said. The 3% digital tax will be applied on digital companies that have a revenue of more than €25 million in France, and more than €750 million worldwide.
In January 2020, Paris offered to suspend its digital tax project on tech companies’ income in France until the end of the year while any international deal was negotiated in the framework of the The Organisation for Economic Co-operation and Development (OECD)
According to Bruno le Maire, the COVID-19 crisis has made the digital tax more pertinent than ever seeing tech sectors doing more businesses than others during the crisis.