Washington D.C.- National Foreign Trade Council (NFTC) Vice President for Tax Policy Cathy Schultz today issued the following statement after France’s lower house approved a digital services tax bill last Thursday:
“Under the proposal passed in France last week, U.S. companies could be charged up to five percent of gross revenue retroactively to January 1, 2019. This proposal will disproportionately affect U.S. technology exporters by setting a threshold that effectively carves out all French competitors and it undermines the global consensus-based process underway at the Organization for Economic Cooperation and Development (OECD).
“The NFTC urges the Administration to send a strong message to France that, while we agree that global tax rules must be updated for the digital age, unilateral, discriminatory taxes against U.S. firms are not an appropriate solution.”
