83 032
Fashion Jobs
ADIDAS
Project Manager - Global Team Sports
Permanent · PORTLAND
QVC
Security Shift Leader
Permanent · SUFFOLK
QVC
on Camera Talent Recruitment & Casting Partner
Permanent · WEST CHESTER
BLOOMINGDALE'S
Asset Protection Visual Security Officer, Part Time - Norwalk
Permanent · NORWALK
BELK
Store Fulfillment Associate - Full Time
Permanent · FRANKLIN
BELK
Asset Protection Lead - Full Time
Permanent · AUBURN
BELK
Store Fulfillment Associate - Full Time
Permanent · SAVANNAH
BELK
Store Fulfillment Associate - Part Time - Independence Mall
Permanent · WILMINGTON
BELK
Asset Protection Associate - Full Time
Permanent · ROCKY MOUNT
BELK
Store Fulfillment Associate - Part Time - Coastal Grand
Permanent · MYRTLE BEACH
BELK
Store Fulfillment Associate - Full Time - Bridgestreet
Permanent · HUNTSVILLE
BELK
Store Fulfillment Associate - Full Time
Permanent · TUPELO
BELK
Store Fulfillment Associate - Part Time
Permanent · SAVANNAH
BELK
Asset Protection Manager - Triangle
Permanent · RALEIGH
ALO YOGA
Construction Project Manager
Permanent · LOS ANGELES
SUN VALLEY
Sun Valley Marketing Manager
Permanent · SUN VALLEY
LULULEMON
Community Specialist | (Contract) Market Street The Woodlands
Permanent · THE WOODLANDS
LULULEMON
Community Specialist | Orlando Premium Outlet
Permanent · ORLANDO
LULULEMON
Full-Time Community Specialist | Cumberland Mall
Permanent · ATLANTA
FOSSIL
Dam/Dynamic Media Administrator
Permanent ·
KOHLS
Operations Supervisor - Weekend Days
Permanent · PLAINFIELD
KOHLS
Technical Project Manager
Permanent · MENOMONEE FALLS
By
Reuters API
Published
Mar 4, 2019
Reading time
2 minutes
Download
Download the article
Print
Text size

French tax on internet giants could yield 500 million euros per year

By
Reuters API
Published
Mar 4, 2019

A three percent tax on the French revenue of large internet companies could yield 500 million euros (430.6 million pounds) per year, French Finance Minister Bruno Le Maire said on Sunday.

Le Maire told Le Parisien newspaper the tax is aimed at companies with worldwide digital revenue of at least 750 million and French revenue of more than 25 million euros.


Amazon.com


He said the tax would target some 30 companies, mostly American, but also Chinese, German, Spanish and British, as well as one French firm and several firms with French origins that have been bought by foreign companies.

The paper listed Google, Amazon, Facebook and Apple (the four so-called "GAFA" companies) but also Uber, Airbnb, Booking and French online advertising specialist Criteo as targets.

"A taxation system for the 21st century has to built on what has value today, and that is data," Le Maire said.

He added it is also a matter of fiscal justice, as the digital giants pay some 14 percentage points less tax than European small-and-medium sized companies.
Fairer taxes are a key demand of the "yellow vest" protests seen across France in the past three months.

Le Maire said the tax would target platform companies that earn a commission on putting companies in touch with customers.

Companies selling their products on their own websites would not be targeted, such as French retailer Darty which sells TVs and washing machines via its website.

But companies such as Amazon earning money as a digital intermediary between a producer and a client would have to pay.

The tax would also target the sales of personal data for advertising purposes.
In order to avoid penalising companies who already pay taxes in France, the amount paid will be deductible from pretax income, Le Maire said.

He will present a draft law to the cabinet on Wednesday before it is presented to parliament.

France has led a push for firms with significant digital revenue in the European Union to pay more tax at source, but has made little headway as Germany is cool to the idea, while member states with low corporate tax rates such as Luxembourg and Ireland firmly oppose the proposal.

In an interview with weekly Journal du Dimanche, Carrefour CEO Alexandre Bompard said it is high time to end the fiscal imbalance between brick-and-mortar firms like his and the U.S. and Chinese internet platform companies.

"They pour their products onto markets without even paying value-added tax, and hardly any other tax at all, it is intolerable. On the same turnover they should pay the same tax," he said.

© Thomson Reuters 2024 All rights reserved.