French tax on internet giants could yield 500 million euros per year: Le Maire

PARIS - A three percent tax on the French revenue of large internet companies could yield 500 million euros per year, French Finance Minister Bruno Le Maire said on Sunday.

He said the tax would target some 30 companies, mostly American, but also Chinese, German, Spanish and British, as well as one French firm and several firms with French origins that have been bought by foreign companies. He added it is also a matter of fiscal justice, as the digital giants pay some 14 percentage points less tax than European small-and-medium sized companies.

Companies selling their products on their own websites would not be targeted, such as French retailer Darty which sells TVs and washing machines via its website.

So little? must be a mistake

Or, they will just raise their rates and you will just end up making it more expensive to run a business

There should be a $5 tax per query to Google.

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