ReutersAug 27, 2019 18:13:10 IST
France and the United States have reached a deal to end a standoff over a French tax on big internet companies, French President Emmanuel Macron said on Monday.
US President Donald Trump had threatened to hit back with tariff action after France passed a law earlier this year that would impose a 3 percent tax on revenues earned on digital services in France.
Macron told reporters that companies that pay the tax would be able to deduct the amount once a new international deal on how to tax internet companies is found next year.
“We’ve done a lot of work on the bilateral basis, we have a deal to overcome the difficulties between us,” Macron told reporters, speaking alongside US President Donald Trump at the end of a G7 summit in southwestern France.
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