Last Updated:

France Calls US Withdrawal From Tech Tax Talks “provocation”

france calls us withdrawal from tech tax talks provocation


PARIS (AP) — France’s finance minister has called the withdrawal of the Trump administration from negotiations on a major digital services tax a “provocation.”

Bruno Le Maire made the comment Thursday on France Inter, saying France will still implement the tax regardless of the U.S. change of heart.

Le Maire was referring to a letter, first reported by the Financial Times, in which U.S. Treasury Secretary Steven Mnuchin told the finance ministers of France, Spain, Italy and the United Kingdom that he was suspending talks on the tax.

“This letter is a provocation. It is a provocation against all the partners at the OECD (the Organization for Economic Co-operation and Development) when we were centimeters away from a deal on the taxation of digital giants,” he said.

ADVERTISEMENT

The countries have been discussing an international agreement on the way global taxes work. The tech tax is meant to prevent tax avoidance measures by multinationals, but the U.S. has said it unfairly singles out companies like Amazon and Google.

Le Maire said there was a joint response to the letter from the four countries on Thursday.

 

 

Get the latest entertainment news from India & around the world. Now follow your favourite television celebs and telly updates. Republic World is your one-stop destination for trending Bollywood news. Tune in today to stay updated with all the latest news and headlines from the world of entertainment.

First Published: