France, US Agree To Extend Digital Tax Row Talks: French Diplomat
Fahad Shabbir (@FahadShabbir) Published January 21, 2020 | 01:30 AM
Paris, (UrduPoint / Pakistan Point News - 21st Jan, 2020 ) :Emmanuel Macron and Donald Trump have agreed to extend negotiations on a dispute over a French tax on digital giants to the end of the year, postponing Washington's threat of sanctions against Paris, a French diplomatic source said Monday.
The source said the French and US presidents, who spoke on Sunday, had agreed to give negotiations a chance to "find a solution in an international framework" and avoid "a trade war that will benefit no one".
Macron tweeted earlier Monday that he had had a "great discussion" with Trump on the issue. "We will work together on a good agreement to avoid tariff escalation," he said.
The dispute began last year when Paris approved a levy on up to three percent of revenues earned by technology companies in France, as international efforts dragged on to find a new model for taxing revenues earned via online sales and advertising.
Tech companies often pay little tax in countries in which they are not physically present.
Washington said the tax singled out US companies such as Google, Apple, Facebook, Amazon and Netflix, and threatened duties of up to 100 percent of the value of French imports of such emblematic goods as Champagne and Camembert cheese.
On January 7, the two sides gave themselves 15 days to reach a deal to avert the US threat of duties on up to $2.4 billion of French goods.
French Finance Minister Bruno Le Maire, who has been conducting intensive negotiations for the last several weeks, is due to meet US Treasury Secretary Steven Mnuchin at the World Economic Forum meeting in Davos on Wednesday.
They are expected to continue talks seeking a negotiated agreement in the Organization for Economic Cooperation and Development (OECD).
"France is pursuing its objective of fair taxation on digital companies and finding a compromise within the framework of the OECD," the French presidency said on Monday.
France has said it would drop its tax if an international agreement is reached.
After blocking the OECD talks for several years, Washington relaunched them last year only to make proposals in December which France rejected.
Related Topics
Recent Stories
At least 10 people killed in Brazil fire: officials
Shahzaib Rind calls on Deputy Speaker Balochistan
Ahsan chairs 13th CPEC-JCC preparatory meeting, reviews arrangements for high-le ..
DC Tharparkar inaugurates anti-polio campaign
HDA Mehran workers demand salaries
Taxila police nab motorcycle lifter gang
Inter-university weightlifting championship kicks off at SAU
Walk held in a series of enrollment campaigns
Team from Gaza mediator Egypt arrives in Israel for truce talks
Kids murders: IHC orders psychiatric examination of mother
Health minister credits PML-N for advancements in organ transplantation
Court grants interim bail to Azam Swati in cyber crime case
More Stories From Miscellaneous
-
Modern Education Techniques: A pathway to achieve economic development
11 hours ago -
Kite Flying: From cultural festival to deadly sport
12 hours ago -
PDMA predicts gusty wind, rain with thunder, hails
3 days ago -
Iranian president Raisi given guard of honour at PM House
4 days ago -
Intellectuals, writers accolades Naseer Mirza on his literary contribution
5 days ago -
Bahawalpur Adabi Sangat hosts memorable mushaira
5 days ago
-
Cattle farming vital to alleviate poverty in rural areas
5 days ago -
Pakistan: A land of tourism, archeological wonders
6 days ago -
Transforming education sector: from job hunters to job creators
7 days ago -
Amjad Bobby remembered on 19th death anniversary for timeless contributions to music
11 days ago -
Legendary actor Nadeem’s 26 films released on Eid-ul-Fitr days in 50 years
12 days ago -
Besant Hall Cultural Centre to celebrate evening with Sanam Marvi on 26 April
12 days ago