France is set to impose a sweeping new law starting January 1 which is set to raise as much as 500 million euros in 2019 alone.
The news comes from Economy and Finance Minister Bruno Le Maire, who struggled to reach a tax deal spanning across the entire European Union. It seems increasingly apparent that EU-wide deals will become increasingly more difficult to achieve as the UK and EU are amidst an unprecedented separation battle.
Here’s a brief statement made by Le Maire today at a French press conference.
Today’s announcement comes after months of talk from Germany seeking to impose similar tax regulations. In September, a spokesperson for the nation’s Finance Minister had the following to say regarding any possible ‘tech-tax’.
An excerpt translated from French publication Capital.fr can be read below.
The news shouldn’t come as too much of a surprise. In early December, Le Maire said in a translated statement:
In September, Apple was required to pay over 15 billion dollars in back taxes to Ireland after being found to illegally benefit from a ‘sweetheart’ tax deal.
What do you think of nations taking a tougher stance against big corporations when it comes to taxes? Let us know down in the comments below.
