A+ A-

G7 countries to tax major tech companies

PARIS, July 17 (KUNA) -- The Group of Seven (G7) finance ministers held their annual meeting on Wednesday in the French city of Chantilly, northern France, to discuss a number of issues, including taxing major tech companies.
The French parliament has recently passed a new law that will tax major digital companies such as Google, Apple, Facebook, and Amazon on revenues they made inside the country.
For his part, French Finance Minister Bruno Le Maire affirmed, in press statements, his country will never back down from taxing giant tech companies.
The possibilities of imposing US sanctions on France still exist, Le Maire noted, adding that Paris, however, will not back off from implementing its national taxes.
Meanwhile, the two-day meeting will also discuss Facebook's plans to launch a virtual currency called "Libra", an issue that sparked wide concerns among regulators in several world countries.
The French minister said, in that regard, that his country's government cannot accept currencies other than sovereign currencies.
The finance ministers of G7, a group consisting of Canada, France, Germany, Italy, Japan, UK, and US, will also discuss other financial and economic issues of mutual interest. (end) mjz.ma