Taxing Tech Giants: US moves closer to EU stance
Washington softens position on European plans to impose taxes on US tech giants
French Finance Minister Bruno Le Maire said the US understands "the need for the fair taxation of digital giants". PHOTO: AFP
WASHINGTON:
Washington is softening its position on European plans to impose taxes on US tech giants such as Apple and Google, officials said this week. The evolving attitude in recent days would mark a stark shift from American officials’ frustration at previous efforts by European authorities to collect taxes from Silicon Valley firms. “The United States is open to considering the matter and they understand very well the need for the fair taxation of digital giants,” French Finance Minister Bruno Le Maire told reporters on Friday. He spoke after meeting with US Treasury Secretary Steven Mnuchin on the sidelines of annual meetings of the World Bank and International Monetary Fund. A Treasury Department spokesman on Friday referred AFP to a statement made earlier this month, according to which American officials remain “deeply concerned” about the matter.
Published in The Express Tribune, October 15th, 2017.
Washington is softening its position on European plans to impose taxes on US tech giants such as Apple and Google, officials said this week. The evolving attitude in recent days would mark a stark shift from American officials’ frustration at previous efforts by European authorities to collect taxes from Silicon Valley firms. “The United States is open to considering the matter and they understand very well the need for the fair taxation of digital giants,” French Finance Minister Bruno Le Maire told reporters on Friday. He spoke after meeting with US Treasury Secretary Steven Mnuchin on the sidelines of annual meetings of the World Bank and International Monetary Fund. A Treasury Department spokesman on Friday referred AFP to a statement made earlier this month, according to which American officials remain “deeply concerned” about the matter.
Published in The Express Tribune, October 15th, 2017.