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
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