The proposed levy is part of an international campaign to clamp down on corporate tax avoidance.
Apple would be among the more than two dozen companies affected by the French government's proposed 3 percent tax on tech giants. By Hamza Shaban Hamza Shaban Technology reporter Email Bio Follow March 6 at 12:18 PM France moved Wednesday to impose a 3 percent tax on Google, Apple, Facebook and other tech giants in a bid to advance an international agreement to clamp down on corporate tax avoidance.
More than two dozen companies meet that threshold, Finance Minister Bruno Le Maire said during a news conference in Paris, according to the Associated Press. Most are U.S.-based, though some large European and Chinese firms also would be compelled to pay.The French proposal, like others from European nations, comes amid broader efforts to modernize the international tax system.
— Bruno Le Maire March 6, 2019 “These giants have created much value and they have created many jobs, and I will never denounce their success,” Le Maire said, according to Bloomberg. “But we must fight against the distortions that these giants have created, especially on tax optimizations and on the dominant positions many have created. We must create taxation for the 21st century.”
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