France said a U.S. decision to quit global talks on how to tax big digital firms such as Google, Amazon and Facebook was a 'provocation' and the ...
PARIS/BRUSSELS: The European Union said on Thursday it could impose taxes on digital giants such as Google, Amazon and Facebook even without a global agreement by the year-end, after Washington quit talks and stoked fears of a new trade war.
The talks aim to reach agreement by the end of 2020, but that deadline is now slipping out of reach with Washington's latest move and the U.S. presidential election in November. European countries says tech firms pay too little tax in countries where they do business because they can shift profits around the globe. Washington has resisted new unilateral taxes on Silicon Valley companies in the absence of an OECD deal."The European Commission wants a global solution to bring corporate taxation into the 21st century," European Economic Commissioner Paolo Gentiloni said.
Le Maire said France would impose its digital services tax this year, whether or not Washington returned to negotiations. Washington has threatened to impose trade tariffs on French Champagne, handbags and other goods in response.
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