Dipo Olowookere
By Dipo Olowookere
President of the United States of America, Mr Donald Trump, on Friday threatened to deal with France for daring to impose tax on American tech firms operating in the European country.
President Emmanuel Macron had said firms with yearly global sales worth more than €750 million would begin to pay what is termed a pioneering digital tech tax.
This digital tax primarily targets companies that use consumer data to sell online advertising and it is designed to stop multinationals from avoiding taxes by setting up headquarters in low-tax European Union countries.
This tax regime would affect tech giants like Facebook, Amazon and Google, all belonging to American citizens.
Mr Trump saw this move by Mr Macron as a deliberate attempt by the French government to impose fresh tax on American companies operating in the country.
While reacting to the issue via his verified Twitter page, the United States President described his French counterpart’s idea as foolish, promising to reciprocate.
“France just put a digital tax on our great American technology companies. If anybody taxes them, it should be their home Country, the USA.
“We will announce a substantial reciprocal action on Macron’s foolishness shortly.
“I’ve always said American wine is better than French wine!” Mr Trump posted on his page on the popular social media platform having its headquarters in the US.
