Ahead of G7 summit, Macron presses U.S. to help reform taxes on big tech

Ahead of G7 summit, Macron presses U.S. to help reform taxes on big tech
imageTechnology26 minutes ago (Aug 21, 2019 01:56PM ET)

PARIS (Reuters) – French President Emmanuel Macron said on Wednesday U.S. tech giants paid unfairly low taxes, failing to contribute to the common good, and urged Washington to help reform the global corporate tax code.

“The big digital players are not contributing to the common good,” Macron told reporters days ahead of a G7 summit in France. “I don’t agree with this system, I don’t think it’s a good one, including for American workers.”

Internet giants such as Facebook (NASDAQ:FB), Alphabet’s Google (NASDAQ:GOOGL) and Amazon (NASDAQ:AMZN) are currently able to book profits in low-tax countries like Ireland and Luxembourg, no matter where the revenue originates.

Macron says taxing big tech more heavily is a matter of social justice and is pressing for a universal tax code for digital services.

France’s parliament in July approved a 3% levy on the revenue from digital services earned in France by firms with more than 25 million euros ($27.75 million) in French revenue and 750 million euros worldwide.

Ahead of G7 summit, Macron presses U.S. to help reform taxes on big tech

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