French plan to tax internet giants

PARIS

The French government unveiled plans Wednesday to slap a 3 percent tax on the French revenues of internet giants such as Google, Amazon and Facebook. The bill outlines how digital companies with worldwide revenues over $848 million will be taxed.

In a news conference Finance Minister Bruno Le Maire estimated the tax will raise about $5.65 million a year this year, but that should increase “quickly.”

About 30 companies, mostly based in the U.S, but also China and Europe, will be affected.

Le Maire said the tax will not affect those companies directly selling their own products online.

“This is about justice”, Le Maire said. “These digital giants use our personal data, make huge profits out of these data ... then transfer the money somewhere else without paying their fair amount of taxes.”