US to probe France's digital tax plan on tech companies
Updated : July 11, 2019 12:12 PM IST
The "Section 301" investigation will determine if the levy poses an unfair trade practice. Prior investigations have covered Chinese trade practices and European Union subsidies on large commercial aircraft.
French finance minister Bruno Le Maire said in March that a 3 percent tax on the French revenue of large internet companies could yield 500 million euros ($563 million) a year.
USTR said in a statement the "services covered are ones where US firms are global leaders. The structure of the proposed new tax, as well as statements by officials, suggest that France is unfairly targeting the tax at certain US-based technology companies."
Have you signed up for Primo, our daily newsletter?
It has all the stories and data on the market, business, economy and tech that you need to know.
THANK YOU! You made our day. See you every morning
YOUR EMAIL IS ON ITS WAY. Check your inbox for future updates.
To keep watching CNBC-TV18, India's No. 1 English Business News Channel, call your Cable or DTH Operator and subscribe now for just Rs. 4 per month. You can also subscribe to CNBC-TV18 Prime HD for Re 1/- per month.Find out more