France to introduce own tax on large internet, tech firms

Paris (AFP) – France will introduce its own tax on large internet and technology companies from January 1, Finance Minister Bruno Le Maire said Monday amid difficulties in finalising a new EU-wide levy.

France has been pushing hard for a new so-called “GAFA tax” — named after Google, Apple, Facebook and Amazon — to ensure the global giants pay a fair share of taxes on their massive businesses in Europe.

Maire said the new tax would raise 500 million euros (570 million dollars) in 2019.