Officials from France and the United States have reached a compromise on a new French tax on services provided by large internet companies, potentially defusing the threat of a trade conflict between the two countries
Under the terms of the agreement, France would repay companies the difference between its digital tax and whatever taxes come from a planned mechanism being drawn up by the Organization for Economic Cooperation and Development , a spokesperson for France's Finance Ministry told CNN Monday. "We have reached a very good agreement," French President Emmanuel Macron said at a joint press conference with US President Donald Trump at the G7 summit in Biarritz, France on Monday.
"We tax our companies, they don't tax our companies," Trump said last month.Tech companies, including Google and Amazon , argued the tax would unfairly target American companies. At a hearing in Washington last week Amazon said it will pass along the costs of the French digital tax to its third-party sellers beginning October 1.
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