U.S. Treasury Secretary Urges France to Suspend Digital Taxes to Help Reach Multilateral Agreement

U.S. Treasury Secretary Steven Mnuchin on Wednesday urged countries such as France to suspend digital taxes on tech giants such as Google and Amazon pending an agreement on international tax negotiations. Mr Mnuchin said the current discussions at the Organisation for Economic Co-operation and Development were crucial to resolving the issue.

U.S. Treasury Secretary Urges France to Suspend Digital Taxes to Help Reach Multilateral Agreement

“We believe that these negotiations must be agreed to prevent the proliferation of unilateral measures such as digital taxes, which pose a threat to the long-standing multilateral consensus on international taxation,” Mnuchin said in a letter to the head of the OECD, Jose Angel Gurria. ”

“We urge all countries to suspend digital tax plans so that the OECD can successfully reach multilateral agreements,” he said in the letter. ”

In a blowback to France’s digital taxes, the Us is preparing to impose tariffs of up to 100 per cent on France’s $2.4 bn products.

U.S. Trade Representative Robert Lighthizer on Monday issued a report attacking France’s tax is discriminatory and aimed at U.S. tech giants such as Google, Apple, Facebook and Amazon.

He said the U.S. would quickly implement a plan to impose tariffs on French products, including champagne, cosmetics, yogurt and goat’s cheese.

Mr. Lighthizer said in a statement Monday that the decision “sends a clear signal that the United States will take action against a digital tax system that discriminates or otherwise unduly imposes a burden on U.S. companies.” “

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