12/30/2020, 2:39 PM (Source: TeleTrader)
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France resumes collecting digital tax - report

French authorities have resumed collecting digital-services revenue tax from the tech giants from the United States, The Wall Street Journal reported on Wednesday, citing an unnamed French official.

Italy and the United Kingdom are expected to take similar action soon, according to the report, meaning that the digital tax-related tensions between European countries and Washington are set to escalate again, especially as the retaliatory tariffs on $1.3 billion worth of French imports the US had announced in July become effective from January 6.

In October, the Organisation for Economic Co-operation and Development (OECD) revealed it failed to reach a deal on the matter, pushing back the negotiations until mid-2021.

Breaking the News / MS