- Monday 24 Feb 2020
‘Very difficult’ talks with US on tech tax: France
PTI, Jan 20, 2020, 5:28 PM IST
Paris: France’s finance minister said Monday that “very difficult” negotiations with Washington to settle a dispute over a tax on multinational tech giants were “far from being a done deal” as a self-imposed deadline loomed.
“We are willing to take steps towards the United States — we have proposed a few,” Bruno Le Maire told the LCI broadcaster.
And while he was still hopeful of a deal by Wednesday, the minister said: “I do not hide the fact that it is very difficult, it is one of the most difficult negotiations that I have conducted, it is far from being a done deal.”
On January 7, Paris and Washington set a two-week deadline to end a row over a French tax on giants such as Google, Apple, Facebook, Netflix and Amazon that was met with a US threat of sky-high retaliatory duties on $2.4 billion of French products from wines cheese to leather handbags.
The negotiating deadline coincided with a scheduled meeting on the topic at the World Economic Forum meeting in Davos from Tuesday to Friday this week.
The US sanctions “would be a terrible blow for French viticulture,” said Le Maire, adding he had spent most of the weekend in negotiations and was due to meet US Treasury Secretary Steven Mnuchin again on Monday evening.
The minister said France would “certainly not” give in to pressure to reduce to “nearly nothing” the three-percent tax France imposed on multinational tech giants’ turnover from January 1 last year, pending the adoption of an international tax regime under the Organisation for Economic Cooperation and Development (OECD).
“What I am trying to make our American friends understand is that the fight is not between France and the United States or between Europe and the United States, the fight is to put in place a fair tax on digital activities,” insisted Le Maire.
After blocking the tech tax talks at the OECD for several years, Washington relaunched them last year only to make proposals in December which France rejected before going ahead with its tax.
Tokyo: Around 100 more passengers were allowed to disembark from the coronavirus-stricken Diamond Princess cruise ship on Saturday as Japan's health m....
Washington: US Senator Bernie Sanders on Sunday secured a convincing victory in the crucial Nevada caucus, giving a big boost to his campaign for the ....
Beijing: The death toll in China's novel coronavirus climbed to 2,345 with 109 more deaths reported, while the confirmed cases rose to 76,288 as a tea....
Tokyo: Indians, who are still on board a cruise ship moored off the Japanese coast, will be tested for the novel coronavirus infection along with othe....
New Delhi: The US-India Business Council on Friday said it has appointed Vijay Advani as new Chair of its Global Board of Directors. Advani has tak....
New Delhi: Billionaire Mukesh Ambani-led Reliance Retail has topped the list of '50 fastest-growing retailers globally between FY2013-2018' in the Del....
New Delhi: Season for air-conditioner sales is going to start soon, and the sector is bracing for a hike of up to 5 per cent, amid combined impact of ....
Bengaluru: In yet another sensational twist to the Kadur murder case, the woman with whom Dr Revanth was allegedly having an extramarital affair commi....
Krishnagiri: Daughter of dead sandalwood smuggler Veerappan, Vidya Rani, joined the BJP on Saturday at an event organised in Tamil Nadu's Krishnagiri.....
Mumbai: Romi Dev, wife of cricket legend Kapil Dev, is thrilled to have actors Deepika Padukone and Ranveer Singh play the real life couple in "83", a....