Paris, July 12, 2019, The Liberacy:- France Senate on its taxation plan gave approval and imposed a 3% tax on big tech companies working in the country. On Thursday, France gave a wave to Trump’s trade concern, as most of the tech giants are from the United States.
US President Donald Trump has given an authority to probe into trade relations with allies and could result in new trade tariffs.
While getting the final vote for the approval the Finance Minister of France said that the disputes between the allies should be kept on tables and not by threatening.
Other Europen Countries like Britain, Ireland and Spain has also planned to draft their own taxation system for the digital platform. They said that big companies like Facebook and Amazon are able to get most of the profits in the lowest taxed countries such as Ireland and Finland.
ASIC French part which happens to represent these big firms like Google, Facebook, Amazon, Twitter, etc gave the stern words of the wider impact of the decision.
This imposition of 3% tax on mainly US-based companies might result in great affair under the storm of the trade war going around the table, starting with the US under Trump administration.