No global digital tax by end-2020 would mean digital tax chaos: France
Skip to main content
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
The Business Standard

Tuesday
February 07, 2023

Sign In
Subscribe
  • Home
  • Economy
    • Aviation
    • Bazaar
    • Budget
    • Industry
    • NBR
    • RMG
    • Corporates
  • Stocks
  • Analysis
  • World+Biz
  • Sports
  • Features
    • Book Review
    • Brands
    • Earth
    • Explorer
    • Fact Check
    • Family
    • Food
    • Game Reviews
    • Good Practices
    • Habitat
    • Humour
    • In Focus
    • Luxury
    • Mode
    • Panorama
    • Pursuit
    • Wealth
    • Wellbeing
    • Wheels
  • Epaper
  • More
    • Subscribe
    • Videos
    • Thoughts
    • Splash
    • Bangladesh
    • Supplement
    • Infograph
    • Archive
    • COVID-19
    • Games
    • Long Read
    • Interviews
    • Offbeat
    • Podcast
    • Quiz
    • Tech
    • Trial By Trivia
    • Magazine
  • বাংলা
TUESDAY, FEBRUARY 07, 2023
No global digital tax by end-2020 would mean digital tax chaos: France

Global Economy

Reuters
23 February, 2020, 09:10 pm
Last modified: 23 February, 2020, 09:14 pm

Related News

  • French PM offers to tweak pension overhaul for conservatives backing
  • French labour minister says raising pensions age 'non-negotiable despite mass protests
  • France hit by second nationwide strike against pension reform
  • France economy grew 2.6% in 2022
  • France, Germany renew alliance strained amid war in Ukraine

No global digital tax by end-2020 would mean digital tax chaos: France

Reuters
23 February, 2020, 09:10 pm
Last modified: 23 February, 2020, 09:14 pm
French Finance Minister Bruno Le Maire attends a news conference to kick off the France's national lottery operator Francaise des Jeux (FDJ) listing with the opening of the share subscription process in Boulogne-Billancourt, near Paris, France, November 7, 2019. REUTERS/Gonzalo Fuentes/File Photo
French Finance Minister Bruno Le Maire attends a news conference to kick off the France's national lottery operator Francaise des Jeux (FDJ) listing with the opening of the share subscription process in Boulogne-Billancourt, near Paris, France, November 7, 2019. REUTERS/Gonzalo Fuentes/File Photo

Failure to reach a global deal on where and how much to tax digital giants like Google, Amazon or Facebook would result in many digital tax regimes emerging all over the world, France's Finance Minister said on Sunday. 

Speaking to Reuters on the sidelines of a meeting of world financial leaders, Bruno Le Maire said the gathering had been very useful in establishing consensus on such global tax rules.

Finance ministers and central bank governors from the world's 20 biggest economies, the G20, met in Riyadh for talks on global economic issues, with digital taxation topping their two-day agenda.

"For the first tine there is wide consensus among the G20 members on the necessity of having a new international taxation system," Le Maire said.

"We have to address the issue of digital companies making profits in many countries without any physical presence, which means without paying the due level of taxes," he said.

"And we also have to address the key question of minimum taxation and the risk of having a race to the bottom on taxation," he said.

France has already adopted its own digital tax, but suspended it until the end of the year to give the G20 time to work out a global deal to which all countries would subscribe.

The Organisation for Economic Cooperation and Development, the G20's think tank, wants to agree on technical details of such a tax by July and a full agreement among the G20 is expected by the end of the year.

"There is a consensus to build a solution by the end of 2020," Le Maire said, noting the alternative — no agreement — would create a proliferation of different tax systems making life more difficult for companies.

"Lets be clear — either we have at the end of 2020 an international solution... clearly in the interest of all countries and digital companies, or there is no solution and ... then it will be up the national taxes to enter into force," Le Maire said.

"Instead of having one single, simple solution, we would have many different digital taxes, all over the world," he said.

The United States, home to most of the digital giants, has been wary of committing to a solution on taxing them before US presidential elections later this year, and has threatened to slap tariffs on French goods if Paris did not suspend the implementation of the tax.

digital tax / France

Comments

While most comments will be posted if they are on-topic and not abusive, moderation decisions are subjective. Published comments are readers’ own views and The Business Standard does not endorse any of the readers’ comments.

Top Stories

  • A general view shows damaged and collapsed buildings after an earthquake in Kahramanmaras, Turkey February 6, 2023. Ihlas News Agency (IHA) via REUTERS
    Deaths exceed 3,700 as catastrophic quakes ravage Turkey, Syria
  • 30% cos see double-digit growth even in hard times
    30% cos see double-digit growth even in hard times
  • Govt borrowing from commercial banks surges
    Govt borrowing from commercial banks surges

MOST VIEWED

  • People wait their turn to get fuel at a petrol station, in Karachi, Pakistan June 2, 2022. Picture taken June 2, 2022. REUTERS/Akhtar Soomro/File Photo
    Pakistan, IMF grapple for consensus to unlock critical funding
  • Indian billionaire Gautam Adani speaks during an inauguration ceremony after the Adani Group completed the purchase of Haifa Port earlier in January 2023, in Haifa port, Israel January 31, 2023. REUTERS/Amir Cohen/File Photo
    Adani sell-off extends; India's opposition lawmakers launch protests
  • People shop for cooking oil made from oil palms at a supermarket in Jakarta, Indonesia, March 27, 2022. REUTERS/Willy Kurniawan/Files
    Indonesia to suspend some palm oil export permits - senior official
  • A liquefied natural gas (LNG) tanker is tugged towards a thermal power station in Futtsu, east of Tokyo, Japan November 13, 2017. REUTERS/Issei Kato/File Photo
    Asian spot LNG prices decline, but enough to tempt buyers?
  • Photo: Collected
    Indonesia 2022 GDP growth races to 9-year high on strong exports
  • Jerome Powell, chairman of the US Federal Reserve, speaks during a news conference. Photographer: Al Drago/Bloomberg
    When the Fed's suspected of bluffing, it has a problem

Related News

  • French PM offers to tweak pension overhaul for conservatives backing
  • French labour minister says raising pensions age 'non-negotiable despite mass protests
  • France hit by second nationwide strike against pension reform
  • France economy grew 2.6% in 2022
  • France, Germany renew alliance strained amid war in Ukraine

Features

Photo: Collected

Get your partner a lovely present this Valentine's Day

22h | Brands
Pottery Wheel Craft Kit: A creative outlet for little hands

Pottery Wheel Craft Kit: A creative outlet for little hands

21h | Brands
Say it with Colours

Say it with Colours

1d | Mode
Photo: Courtesy

From 'Made in Bangladesh' to 'Designed in Bangladesh'

1d | Panorama

More Videos from TBS

Who will survive? Adani or Hindenburg?

Who will survive? Adani or Hindenburg?

13h | TBS Stories
James Gunn’s 8-10-year plan for the DC Universe

James Gunn’s 8-10-year plan for the DC Universe

13h | TBS Entertainment
LC issues lead to severe shortage of surgical equipment

LC issues lead to severe shortage of surgical equipment

16h | TBS Insight
Stage plays are going on in the digital age

Stage plays are going on in the digital age

21h | TBS Stories

Most Read

1
Leepu realised his love for cars from a young age and for the last 40 years, he has transformed, designed and customised hundreds of cars. Photo: Collected
Panorama

'I am not crazy about cars anymore': Nizamuddin Awlia Leepu

2
The International Monetary Fund (IMF) logo is seen outside the headquarters building in Washington, U.S., September 4, 2018. REUTERS/Yuri Gripas/File Photo
Economy

IMF approves $4.7 billion loan for Bangladesh, calls for ambitious reforms

3
Belal Ahmed new acting chairman of SIBL
Banking

Belal Ahmed new acting chairman of SIBL

4
Fund cut as Dhaka's fast-track transit projects on slow spending lane
Infrastructure

Fund cut as Dhaka's fast-track transit projects on slow spending lane

5
Photo: Collected
Startups

ShopUp secures $30m debt financing to boost expansion, supply chain

6
Photo: Courtesy
Panorama

From 'Made in Bangladesh' to 'Designed in Bangladesh'

EMAIL US
[email protected]
FOLLOW US
WHATSAPP
+880 1847416158
The Business Standard
  • About Us
  • Contact us
  • Sitemap
  • Privacy Policy
  • Comment Policy
Copyright © 2023
The Business Standard All rights reserved
Technical Partner: RSI Lab

Contact Us

The Business Standard

Main Office -4/A, Eskaton Garden, Dhaka- 1000

Phone: +8801847 416158 - 59

Send Opinion articles to - [email protected]

For advertisement- [email protected]