World: Trump administration launches investigation into French plan for tax on tech giants - - PressFrom - US
  •   
  •   
  •   

WorldTrump administration launches investigation into French plan for tax on tech giants

01:50  11 july  2019
01:50  11 july  2019 Source:   thehill.com

Everybody clap your hands: Giants play 'Cha Cha Slide' to get rid of seagulls

Everybody clap your hands: Giants play 'Cha Cha Slide' to get rid of seagulls At Oracle Park, home of the San Francisco Giants, the stadium operations crew plays the "Cha Cha Slide" when seagulls swarm too close to the field.

into France's planned tech giants tax , adding that Washington is very concerned that the tax Trump 's administration will launch an investigation into tax on technology giants planned by be given up to a year to examine whether the French plan would hurt US technology firms, and

The Trump tax plan simplifies the tax structure but reduces revenue by .5 trillion. Business tax cuts are permanent. Trump 's tax plan advocates a change from the current "worldwide" tax system to a "territorial" system. Under the worldwide system, multinationals are taxed on foreign income earned.

Trump administration launches investigation into French plan for tax on tech giants© Getty Images Trump administration launches investigation into French plan for tax on tech giants

The Trump administration on Wednesday announced an investigation into the French government over its plans to implement a tax on technology companies.

United States Trade Representative (USTR) Robert Lighthizer expressed concerns that the French digital tax could disproportionately affect American companies.

"The President has directed that we investigate the effects of this legislation and determine whether it is discriminatory or unreasonable and burdens or restricts United States commerce," Lighthizer said in a statement.

House Judiciary Dems prepare slew of subpoenas for Trump-tied targets

House Judiciary Dems prepare slew of subpoenas for Trump-tied targets House Judiciary Committee Democrats announced Tuesday that they plan to authorize subpoenas later this week.

The Trump administration is launching a global campaign to end the criminalization of homosexuality in dozens of nations where it's still illegal to be gay. The administration is responding in part to a reported hanging of a young gay man in Iran, Trump ’s top geopolitical foe.

President Trump created a sweeping tax overhaul, which rewards President Trump signed the " Tax Cuts and Jobs Act" into law on Dec. According to Harvard Law School senior lecturer Stephen Shay, a former Treasury official in the Obama and Reagan administrations who helped develop the 1986

The French finance minister said in March that the country would impose a 3 percent tax on the annual revenues of technology companies that make at least 750 Euros annually and provide services to users in the country.

The tax would affect multiple U.S. tech giants, including Apple, Google and Amazon.

The USTR investigation could serve as a precursor to the implementation of tariffs or other trade measures against France at a time when President Trump has ignited trade disputes with other allies.

The USTR will conduct the assessment under the authority of Section 301, the same provision that Trump has used to cite national security concerns in imposing steep tariffs on Chinese imports.

Trump has faced criticism from Republicans and Democrats alike over his liberal use of tariffs as a negotiating tool. The U.S. and China have been engaged in a tit-for-tat trade dispute, and Trump has threatened Japan, Mexico and the European Union with tariffs over what he has deemed unfair trade relationships.

But Wednesday's investigation was greeted with bipartisan support.

Sens. Chuck Grassley (R-Iowa) and Ron Wyden (D-Ore.) said the French policy "unfairly targets American companies in a way that will cost U.S. jobs and harm American workers."

Rep. Kevin Brady (R-Texas), the top Republican on the House Ways and Means Committee, said he backed the move from the Trump administration and called on France to scrap the measure altogether.

Read More

Orioles' No. 1 overall pick Rutschman launches HR in minors debut.
Catcher Adley Rutschman quickly showed on Saturday why he is already among the best prospects in baseball. 

—   Share news in the SOC. Networks

Topical videos:

usr: 3
This is interesting!