7/11/2019, 12:12 AM (Source: TeleTrader)
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US starts probe into French digital services tax

United States Trade Representative (USTR) Robert Lighthizer (pictured) announced the US is opening an investigation into a tax which the French government plans to impose on tech companies. The Digital Services Tax aims to introduce a 3% levy on total annual revenues generated by companies whose revenues exceed €750 million globally and €25 million in France.

"The United States is very concerned that the digital services tax which is expected to pass the French Senate tomorrow unfairly targets American companies, Lighthizer said. "The President has directed that we investigate the effects of this legislation and determine whether it is discriminatory or unreasonable and burdens or restricts United States commerce."

Baha Breaking the News (BBN) / DJ