As reported by media, A digital service tax has been approved by the French legislators. It has been stated that a 3% tax will be levied on major digital giants sales generated in France.
The tech giants like Facebook, Amazon, Google, etc. will all be covered under this bill. Any digital company with revenue of more than €750m ($850m; £670m) – of which at least €25m is generated in France – would be subject to the levy.
US has ordered an inquiry for the same.
As stated by TOI, “The new law aims at plugging a taxation gap that has seen so.”
[Source: BBC]
