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US Threatens 100% Tariffs On Champagne If French Impose Digital Services Tax

The French digital services tax is unreasonable, protectionist and discriminatory,” say Senators Charles Grassley and Ron Wyden,  the Republican and Democrat leaders on the US Senate Finance Committee.

The French products that would be affected amount to $2.4 billion in annual exports to the US.

The French tax is “inconsistent with prevailing principles of international tax policy, and is unusually burdensome for affected U.S. companies,” says a statement from the office of  US Trade Representative Robert Lighthizer.

“The USTR is focused on countering the growing protectionism of EU member states, which unfairly targets U.S. companies,” said Lighthizer.

The French say the tax on digital services is not specifically aimed at US firms and that it will not give up on finding ways to tax digital companies.

France’s 3% tax applies to revenue from digital services earned by firms with more than $27.86 in French-based revenues and €750 million worldwide.

Source: electronicsweekly

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