France’s Digital Tax – level 2
France and the US met to discuss large tech companies that do business on the Internet. The problem is how to tax the companies because France wants to tax them.
The US says that it can tax some of them because many of them are US companies.
France says that these tech companies use global tax rules to move the profits to countries with lower taxes. Then they avoid paying higher taxes in the countries where they do business.
In the summer, France passed a digital tax on tech companies that make money in France. Three other countries also passed similar taxes. However, an intergovernmental organization is working on tax proposals for tech companies, and it wants to create a worldwide solution that is fair for everyone.
Difficult words: profit (money that you make when you do something), intergovernmental (when many countries’ governments work together), proposal (a plan, an offer).
You can watch the original video in the Level 3 section.
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