France Won't Scrap Tax On Tech Giants, Despite Trump Threats

[left-of-center2012]

Source: Pittsburgh Post-Gazette

France is pushing ahead with a landmark tax on tech giants like Google and Facebook — despite U.S. President Donald Trump's threats of retaliatory tariffs on French wine. After Trump slammed the "foolishness" of the tax in a tweet Friday and promised reciprocal action, French Finance Minister Bruno Le Maire said "France will implement" it anyway.

According to Le Maire's office, he added, "the universal taxation of digital activity is a challenge that concerns us all." He said the tax is meant as a temporary measure pending negotiations on an international tax deal. The 3% tax, which went into force this week, mainly concerns companies that use consumer data to sell online advertising.

It's designed to stop multinationals from avoiding taxes by setting up European headquarters in low-tax EU countries. Currently, companies such as Google, Amazon, Facebook, Apple, Airbnb and Uber pay very little tax on their significant business in countries like France.

The Trump administration says the tax is discriminatory against U.S. business. But the tax targets any digital company with yearly global sales worth more than 750 million euros ($835 million) and French revenue exceeding 25 million euros ($27 million). It should affect about 30 companies, based in the U.S, China and Europe — including France. Trump derided French wines in his tweet, and said he might hit them with retaliatory tariffs to French.

Read more: https://hosted.ap.org/post-gazette/article/901c1099ba5b482a848a90834309ecda/france-wont-scrap-tax-tech-giants-despite-trump-threats

---

Jul. 27, 2019 7:33 AM EDT

[Cryptoad]

1. HOws about ,,,,,,,,

include those French Fries with the wine....!

[left-of-center2012]

2. Trump likes to make threats

But world leaders are listening less and less.

[paleotn]

4. Because his threats rarely have any teeth.

Just like his whole persona. He's a paper tiger.

[bucolic_frolic]

3. Trump's hypercontrol where he dictates every nuance to everybody

is pathological. He is dangerous and needs to be removed from office. Not one of his policies has helped America, it's all been about rewarding oligarchs while plundering the country's social resources and systems.

[CentralMass]

6. +1

[paleotn]

5. Are those really US businesses?

I think not. The forerunners of Weyland Yutani.

[groundloop]

7. "concerns companies that use consumer data to sell online advertising"

I believe France is right in collecting a small tax (3 %) from these companies. Obviously one of the affected CEOs has complained to tRump so he thinks he can 'save the day' by bullying France.

[Marie Marie]

8. He really does think he controls the world.

[sinkingfeeling]

9. Bravo, France!

[kiri]

10. trump knows about wines?

The idea of a 0.001% tax on every stock transaction is excellent. It would cost the average stockholder mere pennies. And cost the hi-clever computer systems who trade every second--to nobody's benefit

If indeed Trump NEVER drinks alcohol (who knows? he lies about everything), how could he have the vaguest idea about wines, French, Californian, New Zealand, Armenian??

[moondust]

11. Dear corporatists,

The more small businesses you drive into bankruptcy, dissolution, and infeasibility, the more you are going to have to compensate for their lost business and employee tax revenues. Get it?

I think it's safe to say that not only does Donny Boo Boo judge wines by their appearance but he also judges books by their cover. What was that old Stevie Wonder song -- "Very Superficial"?

[left-of-center2012]

12. Trump says he 'knows' wine

If he's such an expert,
why did 'Trump wine' go bankrupt?