Davos deal delivers US-France truce on digital tax - leatherbiz: Leadi Leatherbiz

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Davos deal delivers US-France truce on digital tax

22/01/2020
France and the US have brokered a truce on digital tax, which means that France will hold off on imposing a new 3% digital services tax (DST) on e-commerce companies from the US and its trading partner will refrain from applying addition tariffs to a series of imports from France, including high-end handbags.

In July, France approved the new tax and said it would apply it retroactively from early 2019, possibly raising as much as €400 million immediately from companies including Amazon, Apple, Google and Facebook.

The two countries announced a truce after a meeting between France’s economy minister, Bruno Le Maire, and the US treasury secretary, Steven Mnuchin, at the World Economic Forum (WEF) in Davos on January 22.

They said they would continue their dialogue while in Switzerland, with a view to thrashing out a global deal on digital tax.



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