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France resumes tax on tech giants, Seeks deal with US

Shortpedia

Content Team
Image Credit: shortpedia

France is resuming collection of a special tax on Big Tech companies despite the threat of U.S. retaliatory tariffs on French Champagne, cheese, handbags and other goods. The tax brought about 400 million euros to the French budget last year, but the government agreed to suspend it in 2020, in exchange for an American promise to drop the tariff threat pending talks on an international deal on taxing online companies.