Amazon, Facebook, and Google are among a bunch of American tech firms to bristle at sweeping reforms in France, which are set to increase their tax bills by millions of dollars.
The firms have submitted written evidence to a US government investigation into France’s so-called digital services tax, in which they said the plans are “unjustifiable.”
Donald Trump has warned France that if it proceeds with the tax reforms, he could hit back with his own measures — namely taxing the country’s wine.
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America’s biggest tech firms, including Amazon, Facebook, and Google, have come out swinging against sweeping tax reforms in France and the rest of Europe.
The French government last month passed plans to clobber tech companies with a 3% levy on their revenue, in addition to the more traditional method of taxing profit.
The so-called digital services tax set alarm bells ringing at the US government, which almost immediately launched an investigation into the plans, known as a Section 301 investigation.
President Donald Trump’s administration was concerned that France was “unfairly targeting the tax” on US companies. The probe could culminate in retaliatory tariffs, which might open up a new trade war.
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Source:: Businessinsider – Tech