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Daily Tax Report: International

France Plans 5 Percent Digital Tax as Governments Chase Internet Giants

March 3, 2019, 11:30 PM

France intends to tax the revenue of about 30 Internet giants such as Amazon.com Inc. to help ensure “fiscal justice,” according to Finance Minister Bruno Le Maire.

The levy of as much as 5 percent of French sales will start Jan. 1 and potentially raise about 500 million euros ($570 million) for the state, Le Maire told Le Parisien newspaper. Under the plan, which the cabinet will discuss on March 6, the tax will apply to any company with global revenue of more than 750 million euros and French sales above 25 million euros, Le Maire said.

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