Le Maire urges G7 to enact global digital tax

Wednesday, 17. July 2019 01:08

France's Finance Minister Bruno Le Maire (pictured) urged the Group of Seven (G7) to create an international framework for the taxation of digital giants. At the group's meeting outside Paris, Le Maire said that a wider consensus on this issue would enable the codification of such measures under the auspice of the Organization for Economic Cooperation and Development (OECD).

He also said that, despite other issues, the United States and France agreed on a multitude of measures, including on the need to investigate and possibly keep a tight rein on the newly announced Facebook Inc.'s digital currency, Libra. Le Maire is scheduled to meet US Treasury Secretary Steven Mnuchin on Wednesday.

Last week, both of France's houses of parliament approved a bill enacting a 3% tax on digital giants amid US threats to launch countermeasures.

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Breaking the News / MA