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France will tax digital giants from 2019 even if no EU-wide agreement: FinMin

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On Friday, the Finance Minister of France, Bruno Le Maire stated that the country will now be taxing the digital giants from the year 2019.

This will happen if the European Union fails to reach to an agreement for the tax issues for the bloc on the digital revenues.

The finance ministers of the European Union have failed to reach to an agreement on Tuesday regarding the digital revenues despite the eleventh hour Franco German plan of salvaging the deal through narrowing the focus to tech companies like Google of Alphabet and Facebook.

Source: Invdn

The minister, Le Maire stated to the France 2 television that he is giving himself time until March to reach to an agreement on the digital giants related to the European tax.

He further added that if that fails to happen then they will be doing it on a national level from the year 2019.

Source: Boell

Emmanuel Macron, the President of France received a setback in Brussels which was a blow for the president according to the Reuters.

This came at a time when the government of France was has already been beset by the protests happening nationwide against the high cost of living along with the economic policies which are being perceived as a favorite big business as well as wealthy, however doing nothing that will help the poor.

Source: Reuters, TheWallStreetJournal

Ketakee Srivastava
I am an amateur content writer, who is currently pursuing a Masters in Finance from ICFAI Business School. In this highly volatile Business Market, I find no better way to keep myself updated than to write about it and reflect my own thoughts as words.

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