France withdrew from the US, postponed the digital tax

France has agreed to postpone the collection of a new digital tax imposed on multinational technology companies until the end of 2020.

The US threatened to impose retaliatory tariffs on French goods worth 2.4 billion USD. However, Washington will not apply these additional duties this year. The bbc.com portal informs about it.

Global technology giants, including Google, Apple, Facebook and Amazon, they had to pay a tax of three percent of their sales in France in April and then again in November. France, as well as several other European countries, is pushing for its own digital tax while is awaiting a multilateral agreement to be proposed by the Organization for economic cooperation and development. If the organization reaches an agreement by the end of the year 2020, the French tax will not apply at all. However, if until then multilateral the agreement does not conclude, France will also collect two tax payments this year.

France has agreed to postpone the collection of a new digital tax imposed on multinational technology companies until the end of 2020.

The US threatened to impose retaliatory tariffs on French goods worth 2.4 billion USD. However, Washington will not apply these additional duties this year. The bbc.com portal informs about it.

Global technology giants, including Google, Apple, Facebook and Amazon, they had to pay a tax of three percent of their sales in France in April and then again in November. France, as well as several other European countries, is pushing for its own digital tax while is awaiting a multilateral agreement to be proposed by the Organization for economic cooperation and development. If the organization reaches an agreement by the end of the year 2020, the French tax will not apply at all. However, if until then multilateral the agreement does not conclude, France will also collect two tax payments this year.