French Finance Minister Bruno Le Maire said on Sunday that a proposed three percent tax on the French revenue of large internet companies could yield 500 million euros per year.
Speaking to the Le Parisien newspaper, Le Maire said that the tax is aimed at companies with worldwide digital revenue of at least 750 million and French revenue of more than 25 million euros.
He said the tax would target mostly American, Chinese, German, Spanish and British compannes, as well as one French firm and several firms with French origins that have been bought by foreign companies. The paper listed Google, Amazon, Facebook and Apple, Uber, Airbnb, Booking and French online advertising specialist Criteo as targets.
Le Maire said that is a matter of fiscal justice, as the digital giants pay some 14 percentage points less tax than European small-and-medium sized companies. He added that the tax would target platform companies that earn a commission on putting companies in touch with customers.
Companies selling their products on their own websites would not be targeted. But companies such as Amazon earning money as a digital intermediary between a producer and a client would have to pay.
The tax would also target the sales of personal data for advertising purposes.
Those companies which already pay taxes in France, will see the amount paid will be deductible from pretax income, Le Maire said.
The French Finance Minister will present a draft law to the cabinet on Wednesday before it is presented to parliament.