https://sputnikglobe.com/20200125/any-tax-targeting-only-digital-companies-is-discriminatory---us-treasury-secretary-mnuchin-1078136296.html
Any Tax Targeting Only Digital Companies is Discriminatory - US Treasury Secretary Mnuchin
Any Tax Targeting Only Digital Companies is Discriminatory - US Treasury Secretary Mnuchin
Sputnik International
The UK stated earlier this week it would press ahead with the introduction of a tax aimed at tech giants despite possible retaliation from Washington. France... 25.01.2020, Sputnik International
2020-01-25T12:32+0000
2020-01-25T12:32+0000
2023-02-09T11:42+0000
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newsfeed, us, steven mnuchin, france, united kingdom (uk), european union (eu)
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Any Tax Targeting Only Digital Companies is Discriminatory - US Treasury Secretary Mnuchin
12:32 GMT 25.01.2020 (Updated: 11:42 GMT 09.02.2023) The UK stated earlier this week it would press ahead with the introduction of a tax aimed at tech giants despite possible retaliation from Washington. France and the US, meanwhile, are still engaged in tense negotiations over the issue, with America stressing the taxation is "discriminatory or unreasonable".
United States Secretary of the Treasury Steven Mnuchin said on Saturday that any tax specifically imposed on tech companies would be discriminatory. Mnuchin also noted that the had been discussing the issue this morning during breakfast with French Finance Minister Bruno Le Maire.
The statement comes after the official vowed earlier this week to impose a tariff on EU auto imports if London or Paris proceeds with implementing the digital tax.
The three-percent levy, called "GAFA" by the French media (an acronym that means Google, Apple, Facebook, and Amazon) targets tech companies with global annual sales of more than €750 million ($849 million) and sales in France of at least €25 million ($27.7 million). The French authorities, however, suspended the tax until the end of 2020 amid negotiations with the US.
Italy has adopted similar legislation, imposing a tax on global tech companies with revenues of over €5.5 million ($6 million) in the country.
