France’s recently imposed a 3% tax on big tech company revenues. The United States responded that the tax was discriminatory towards U.S. tech companies and wants an international agreement that would tax all multinationals, not just the tech giants.
VO: In July, France imposed a 3 percent tax on Big Tech’s revenues. The UK and 25 other countries may do the same.
Brett Weaver soundbite: The US government’s response is these taxes are discriminatory towards U.S. tech giants.
VO: The U.S. wants an international agreement which would tax all multinationals, not just the tech titans. So how will the standoff end?
Brett Weaver soundbite: My bet is if we can reach a global consensus it will affect every business, whether you’re a consumer goods company, a manufacturer, or a tech giant.
Created in partnership with Bloomberg Media Group.