France instructs Tech Giants to bear Digital Tax

France instructs Tech Giants to bear Digital Tax

France’s finance ministry has recently sent notices to big tech enterprises liable to balance the levy that it has planned for December, the ministry said on Wednesday.

Early this year, France suspended tax collection, and that will immensely impact social media giant Facebook and the E-commerce giant Amazon. The negotiations began at the Organization for Economic Cooperation and Development (OECD) to restructure the international tax rules.

The finance ministry has been planning and making statements that it would take initiatives to collect the tax in December as designed. However, over 140 countries involved in the discussion said the negotiation would keep on happening until mid-2021.

Source:https://in.reuters.com/article/france-usa-tax/france-orders-tech-giants-to-pay-digital-tax-idINKBN286075