France and Germany Plan Tax Crackdown on U.S. Tech Giants
- Finance Minister Le Maire to set out proposal in September
- Le Maire also renews call for euro-area tax harmonization
French Finance Minister Bruno Le Maire sat down with Bloomberg's Caroline Connan in Paris, in his First international television interview since the election of President Emmanuel Macron in France three months ago. (Source: Bloomberg)
France is working with Germany and other partners to plug loopholes that have allowed U.S. tech giants like Alphabet Inc.’s Google, Apple Inc., Facebook Inc. and Amazon.com Inc. to minimize taxes and grab market share in Europe at the expense of the continent’s own companies.
France will propose the “simpler rules” for a “real taxation” of tech firms at a meeting of European Union officials due mid-September in Tallinn, Estonia, French Finance Minister Bruno Le Maire said in an interview in his Paris office on Friday, complaining that Europe-wide initiatives are proving too slow.