Saturday 14 December 2019
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business-standard - 11 days ago

US considering tariff on USD 2.4 billion French goods

The Trump Administration has determined that the French Digital Tax is discriminatory against American companies and as such has proposed tariffs of up to 100 per cent on USD 2.4 billion of French products. The US Trade Representative announced this on Monday after it completed the first segment of its investigation under section 301 of the Trade Act of 1974. The investigations, it said, concluded that France s Digital Services Tax or DST discriminates against US companies, is inconsistent with prevailing principles of international tax policy, and is unusually burdensome for affected US companies. Specifically, USTR s investigation found that the French DST discriminates against US digital companies, such as Google, Apple, Facebook, and Amazon. In addition, the French DST is inconsistent with prevailing tax principles on account of its retroactivity, its application to revenue rather than income, its extraterritorial application, and its purpose of penalizing particular US technology


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