France unveils the “tax of the 21st Century”
French Finance Minister Bruno Le Maire (photo above) has unveiled plans for what is being described as the “tax of the 21st Century.” A new French tax on digital giants.
Dubbed the GAFA tax, which is an acronym of the US companies it targets: Google, Apple, Facebook and Amazon, the proposed levy will impose a 3% revenue tax on digital companies with global revenues above €750 million and above €25 million in France.
The French Economy Ministry said it believed the tax would raise €500 million per year.
Via France 24
