Wednesday, March 6, 2019

French Finance Minister Introduces Bill to Tax Internet Giants

Bruno Le Maire 
French Finance Minister Bruno Le Maire today detailed a tax bill for digital giant companies like Apple, Google, Amazon, and Facebook that he introduced during the meeting of the Council of Ministers, reports Reuters.

 "We want to invent the taxation of the 21st century," the statist said. 

Le Maire's plan would apply to any internet company with worldwide internet revenues of at least 750 million euros ($847 million) and 25 million euros ($28 million) from within France and apply a tax of 3% on such revenues.

 Le Maire estimated the tax will raise roughly 500 million euros ($565 million) per year and would apply to roughly 30 major companies, mostly from the U.S.

 An effort is underway to introduce such a tax throughout the European Union, however, Ireland and Germany have objected.


1 comment:

  1. "We want to invent the taxation of the 21st century,"

    This is an illustration of the oxymoronic phrase, "government innovation."

    As Bush II is alleged to have said, "The French have no word for 'entrepreneur.' "