France will become the first European country to collect a tax on the digital revenue of large tech firms, after its Senate passed the controversial levy.
The legislation, adopted July 11, would impose a 3% tax on the revenue of digital giants such as Facebook Inc. and Amazon Inc.
- All eyes now shift to the President Emmanuel Macron, who has 15 days to sign the tax into law.
- France launched its unilateral measure after efforts to pass a similar European Union-wide version of the tax reached an impasse.
- The proposed tax has a threshold similar to...