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Washington, United States | AFP | US Treasury Secretary Steven Mnuchin on Wednesday urged countries like France to suspend taxes on global computing giants and wait for a negotiated agreement on international taxation.
As the United States is poised to impose tariffs of up to 100 percent on $2.4 billion in French products over that country’s digital services tax, Mnuchin said talks in the Organization for Economic Cooperation and Development are key to resolving the issue.
The French parliament infuriated the administration of President Donald Trump in July by adopting a law taxing digital firms like Google, Apple, Facebook and Amazon for revenues earned inside the country.
“We believe that it is very important that these talks reach agreement in order to prevent the proliferation of unilateral measures… which threaten the longstanding multilateral consensus on international taxation,” Mnuchin said in a letter to OECD chief Jose Angel Gurria.
