Wednesday, 19 December 2018 10:40

France to start taxing big tech firms from 2019

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France to start taxing big tech firms from 2019 Pixabay

France will begin taxing Google, Facebook, Apple and Amazon in the new year, with the country's Finance Minister Bruno Le Maire telling the media on Tuesday that €500 million (US$570 million) would be raised through this measure in 2019.

The move comes after an EU-wide move, proposed in March, was voted down by some countries. including Ireland which hosts the European headquarters of Apple and Google.

The OECD has also been trying to reach a consensus among its 36 member countries on a similar tax.

The Guardian reported that a joint French-German move to begin levying tax on big technology companies had not made much progress either.

“The tax will be introduced whatever happens on 1 January and it will be for the whole of 2019 for an amount that we estimate at €500 million,” Le Maire told the media in Paris.

In October, British Chancellor Phillip Hammond introduced a digital services tax which would come in from April 2020.

Hammond said established technology companies, rather than start-ups, would have to to pay the tax.

And Australia's Treasury has floated the idea of a minimum rate of tax which the Federal Government is said to be considering.

Spain, Italy, Singapore and India are also said to be drafting their own versions of a digital tax.

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Sam Varghese

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Sam Varghese has been writing for iTWire since 2006, a year after the site came into existence. For nearly a decade thereafter, he wrote mostly about free and open source software, based on his own use of this genre of software. Since May 2016, he has been writing across many areas of technology. He has been a journalist for nearly 40 years in India (Indian Express and Deccan Herald), the UAE (Khaleej Times) and Australia (Daily Commercial News (now defunct) and The Age). His personal blog is titled Irregular Expression.

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