France intends to avenge France for taxation of American IT companies
Already today, July 10, the United States may announce its further action in an ongoing confrontation with France, which introduces taxes on technology giants including Amazon, Google and Facebook. In particular, states can apply tariffs on French goods totaling $ 500 to $ 700 million. Among the most well-known products on the black list are French wines, cheeses and women’s handbags. It is believed that the tariff will go into effect soon after the so-called “digital” tax is collected from France’s IT giants. This can happen by 2020.
US Trade Representative Robert Lighthizer clarified that the introduction of tariffs on French goods is inevitable. “We want to announce that we are ready to implement some sanctions against France, but we will postpone their introduction in the same way as they have postponed the start of the collection of digital tax.”
Last month, the United States backed out of international negotiations on a digital tax because it was not possible to reach an agreement on the collection of this tax worldwide. Several European countries, including France, UK, Austria, Spain, Italy, Hungary and Turkey, have already announced plans to tax the income of IT companies providing services in their region. In dozens of countries, the issue is currently under discussion. In return, Washington threatened a tough retaliation to any country that would begin taxing the “digital” income of American companies.
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In May, Daniil Getmantsev, chairman of the Verkhovna Rada Committee on Finance, Tax and Customs Policy, said international IT corporations are ready to introduce a value-added tax for electronic services in Ukraine. Getmantsev is the author of the relevant bill, according to which it plans to levy VAT on the services of Google, YouTube, Apple, Facebook, Adobe, Booking and other companies providing electronic services in Ukraine.
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According to the material Bloomberg