The French and US authorities have concluded a draft of the French tax levy implemented in July, known as the "Google Tax", of 3% on digital technology revenue from major technology companies. This news from Reuters comes after the agency said that Emmanuel Macron wanted to discuss this at the G7 summit in France this weekend. It seems that the goal is being met.
The agreement between the US Finance Minister, the US Secretary of State for Finance and the White House economic adviser provides for a refund of the difference between a French tax and a mechanism to be considered by the OECD.
Based on anonymous sources, the agency says the draft will be presented to Donald Trump and Emmanuel Macron this Monday and, apparently, Trump's advisor "is pleased with the proposal." It seems that the initial rivalry between the French president and Donald Trump may now have been softened. Initially, the US president was not satisfied with this measure and responded with a possible fee to French wine in retaliation.
The G7 is an international group made up of Germany, Canada, the United States, France, Italy, Japan and the United Kingdom. The European Union is also represented. Digital transformation, climate and oceans change, and trade were some of the focal points discussed by leaders at the 2019 summit.