The United States is stepping up pressure on other countries over negotiations for a digital services tax, opening new probes into nations planning higher duties on tech giants.
to put forward new taxes on digital giants. The subject has sparked division between the U.S. and France before and it could ultimately mean higher trade tariffs for these countries.
France was the first major economy to legislate a digital services tax, but after threats from the United States that it would charge more from French exporters, Paris decided to postpone collecting the first payments until 2021. The OECD is due to present a plan by the end of 2020. France has said that if international talks fail, tech firms will still have to pay the tax."If the U.S. continues with its objective of making the tax voluntary, an agreement is very unlikely, so the move puts pressure in these markets as to whether they'll want to stick with if tariffs are introduced," Dexter Thillien, a senior industry analyst at Fitch Solutions, told CNBC Wednesday.
"It is interesting timing," Jeremy Ghez, an affiliate professor at H.E.C. Business School in Paris, told CNBC Tuesday.
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