France new MPs have approved a new tax on large companies like Facebook and Apple. These companies have to face the displeasure of America. France’s Finance Minister Bruno Le Maire believes that he is proud of the kind of steps France has taken.
America’s foreign minister Mike Pompey said that this plan will affect both the American company and the French citizens, who use these forums. 5 MPs did not participate in the poll. Le Maire cited EU figures that show major tech companies pay, on average, 14 per cent less tax than other European companies, according to the AP report. He said the tax would exclude transactions that involve the direct sale of products online but would mostly target firms that use data to sell digital advertising.
It is unacceptable that digital sector giants earn huge profits from consumers’ figures, but “the tax is imposed on France profit”. But by this law, the Finance Minister of France has considered it a major step in the direction of the system more effective and fair for the 21st century.