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French Digital Tax to Raise Around $480 Million From Tech Firms

Dec. 1, 2020, 12:32 PM

France will raise around 400 million euros ($480 million) from its digital tax in 2020, according to Finance Minister Bruno Le Maire, who wants the European Union to respond immediately if the U.S. goes ahead with retaliatory tariffs.

The levy is at the center of a dispute between the two countries over how to tax multinational tech giants. They had declared a truce until the end of this year, under which France suspended collecting the levy that hits some of the largest American companies and the U.S. agreed to delay the implementation of tariffs on $1.3 billion of French ...

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