Stefan Mileschin

Calls on the US government for protection

After refusing to pay tax in Europe for ages, Big Tech is so upset by the French demanding a piddling three percent on profits that it is asking for the US government to help.

Major tech firms and US tech industry groups said that France’s new digital services tax undermines the global tax regime and multilateral efforts to reform it.

Google, Facebook, Amazon.and major trade associations testified Monday against the tax at a hearing before the US Trade Representative’s office and other government officials.

The French Senate in July approved a three percent levy that will apply to revenue from digital services earned in France by companies with more than 25 million euro in French revenue and 750 million euro ($838 million) worldwide.

The US Chamber of Commerce said the tax will generate revenue of approximately 500 million euro ($554 million) per year “a large majority of which will be paid by US firms” and will cost US firms millions to conduct “significant re-engineering of accounting systems to ensure that they can accurately assess” liability.

Major tech firms warned of increased costs.

“Unilateral measures like the DST are harmful to Facebook and the digital economy,” Alan Lee, Facebook’s global head of tax policy, said in a statement.

https://fudzilla.com/news/49249-big-...out-paying-tax