PARIS, France — French President Emmanuel Macron signed into law a 3% tax on the revenue of big multinational tech companies.
The tax will target companies with at least 750 million euros ($834 million) in global revenue and digital sales of 25 million euros in France from certain digital activities, such as targeted advertising, and providing platforms to connect buyers and sellers.
France’s digital tax is the first of similar measures being considered by countries such as Austria, Italy, U.K., Poland, and the Czech Republic.
It was signed into law in a ceremony in Paris July 24.
The law would affect US-based global giants like Google, Apple, Facebook and Amazon, among others.
Leaders of the Group of Seven highly industrialised countries are to meet in the southwestern French city on August 24-26 at the G7 Summit.
