Kathmandu,July 11(Nepal Niti)-The president of the US Donald Trump has ordered an investigation into France’s planned tax on tech giants. Trump’s trade representative said the US was very concerned that the tax unfairly targets American companies.
On Thursday the French parliament is due to approve a 3% levy on revenue made by such companies as Google and Facebook inside the country. France argues that these firms currently exploit global tax loopholes. The new tax is expected to raise about €400m ($450m; € 360m) this year. Any digital company with revenue of more than €750m of which at least €25m is generated in France would be subjected to the tax.
Mr. Trump has directed that we investigate the effects of this legislation and determine whether it is discriminatory or unreasonable and burdens or restricts United States commerce, the statement from trade Representative Robert Lighthizer said.