Macron, Trump agree to hold tech giants off on digital tax

PARIS: Presidents Emmanuel Macron and Donald Trump have decided to extend to the end of the year negotiations on a French tax on digital giants, delaying the threat of sanctions against Paris by Washington, a French diplomatic source said Monday.

The source said the leaders of France and the United States, who spoke on Sunday, promised to give negotiations a chance to “find a solution within an international context” and stop “a trade war that will help none.

French President Emmanuel Macron on Monday took on social media and said, “Great discussion with U.S President Donald Trump on digital tax. We will work together on a good agreement to avoid tariff escalation.”

Great discussion with @realDonaldTrump on digital tax. We will work together on a good agreement to avoid tariff escalation.
— Emmanuel Macron (@EmmanuelMacron) January 20, 2020

The White House said that Macron-Trump spoke and “agreed that it is important to conclude effective digital service tax negotiations, and addressed other bilateral issues as well.”

The controversy began last year when Paris adopted a levy on up to three percent of the profits received by France’s technology companies, while international efforts went on to find a new formula for taxing revenues raised from online sales and ads.

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Macron, Trump agree to hold tech giants off on digital tax

PARIS: Presidents Emmanuel Macron and Donald Trump have decided to extend to the end of the year negotiations on a French tax on digital giants, delaying the threat of sanctions against Paris by Washington, a French diplomatic source said Monday.

The source said the leaders of France and the United States, who spoke on Sunday, promised to give negotiations a chance to “find a solution within an international context” and stop “a trade war that will help none.

French President Emmanuel Macron on Monday took on social media and said, “Great discussion with U.S President Donald Trump on digital tax. We will work together on a good agreement to avoid tariff escalation.”

The White House said that Macron-Trump spoke and “agreed that it is important to conclude effective digital service tax negotiations, and addressed other bilateral issues as well.”

The controversy began last year when Paris adopted a levy on up to three percent of the profits received by France’s technology companies, while international efforts went on to find a new formula for taxing revenues raised from online sales and ads.

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