7/11/2019, 12:13 PM (Source: TeleTrader)
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France passes digital tax law despite US probe

France's upper house of parliament approved a bill enacting a 3% tax on digital giants amid the United States' threats to launch an investigation into it, media reported on Thursday.

The Senate's approval means that the bill will now become law after having previously been passed by the country's lower house of parliament. It comes as US Trade Representative Robert Lighthizer announced earlier in the day that the US was opening an investigation into the tax over concerns that it unfairly targeted the latter's companies. France responded by stating that the tax was compliant with international agreements and that it had sovereignty over such matters, with Economy and Finance Minister Bruno Le Maire describing the tax as "fiscal justice."

Breaking the News / DZ