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U.S. vows 100% tariffs on French Champagne, cheese, handbags over digital tax

webfact

By webfact
in World News

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ThomasThBKK Silver Member

ThomasThBKK

Posted
Posted

Asia is doing the same, including Thailand: 

https://blog.taxamo.com/insights/digital-tax-news-south-east-asia

 

 

My opinion? 

Kinda makes sense, Facebook, netflix and co earn money in thailand, france and co and should pay taxes there.

Global companies, should pay taxes where they make money and not only in the US or some taxheaven like ireland-dutch shells or caymans.

 

Since most global Internet companies are US based, they will suffer most.

 

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legend49 Silver Member

legend49

Posted
Posted
6 hours ago, nkg said:

I am no fan of Trump's trade negotiations, but nobody seems to mention that the US is collecting a lot of tax money on the back of tariffs.

 

The US collected $7 Billion in September, which would equate to an annual total of over $80 Billion by September 2020.

Tax comes from the end user not the supplier.

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Srikcir Platinum Member

Srikcir

Posted
Posted
8 hours ago, webfact said:

"The French digital services tax is unreasonable, protectionist and discriminatory,"

If France applies the tax "across the board" to all digital services operating within France, that would seem to be a fair and nondiscriminatory tax. That tax would be passed through to the French consumer, so where's the protectionism?

Furthermore, a threatened US tax against import of French products is inconsistent against the French tax against French-based services. While Trump doesn't distinguish between Services and Products (see China for example), I expect WTO views the two as separate and unrelated trade issues. As such there is no protectionism relevant to Trump's tariff threats. If Trump threatened to retaliate against French services performed in the US, that would be on par with the French domestic tax on digital services.

 

More importantly what happened to the US-France agreement regarding the digital tax?

https://www.worldwideerc.org/news/france-united-states-make-deal-on-french-digital-services-tax/

  • The United States and France announced at the end of the August G-7 meeting in France that they had reached a compromise on the digital services tax recently implemented by France and strenuously objected to by the U.S.
  • Under the deal, France has agreed that once a globally agreed approach to taxing the digital economy is reached, it will credit any French digital taxes paid in excess of those that would have been paid under whatever new global agreement eventually comes into play.

Seems Trump is reneging on the agreement.

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Baerboxer Star Member

Baerboxer

Posted
Posted
9 hours ago, keith101 said:

More childish tit for tat <deleted> from the US .

 

Hardly. Macron greedily introduced a new way of selectively taxing American tech companies. 

 

Do you think the Americans should just bend over and let Macron shaft them?

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Baerboxer Star Member

Baerboxer

Posted
Posted
1 hour ago, Srikcir said:

If France applies the tax "across the board" to all digital services operating within France, that would seem to be a fair and nondiscriminatory tax. That tax would be passed through to the French consumer, so where's the protectionism?

Furthermore, a threatened US tax against import of French products is inconsistent against the French tax against French-based services. While Trump doesn't distinguish between Services and Products (see China for example), I expect WTO views the two as separate and unrelated trade issues. As such there is no protectionism relevant to Trump's tariff threats. If Trump threatened to retaliate against French services performed in the US, that would be on par with the French domestic tax on digital services.

 

More importantly what happened to the US-France agreement regarding the digital tax?

https://www.worldwideerc.org/news/france-united-states-make-deal-on-french-digital-services-tax/

  • The United States and France announced at the end of the August G-7 meeting in France that they had reached a compromise on the digital services tax recently implemented by France and strenuously objected to by the U.S.
  • Under the deal, France has agreed that once a globally agreed approach to taxing the digital economy is reached, it will credit any French digital taxes paid in excess of those that would have been paid under whatever new global agreement eventually comes into play.

Seems Trump is reneging on the agreement.

 

The issue is the time its taking to agree a global approach. Added to the fact that the way this specific tax is worded is clearly to focus on the American Tech giants and reap what amounts to a windfall tax on a regular basis.

 

France again hoping to impose one sided rules to its own advantage.

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Gumballl Gold Member

Gumballl

Posted
Posted
2 minutes ago, Pedrogaz said:

Trump is getting really silly now. These multinationals like Apple, Amazon and Google should not be able to trade in a country and pay little or no tax. 

That's quite a hypocritical statement. Are you saying the Frenchies should be allowed to market their products in the US without paying any taxes?

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wwest5829 Platinum Member

wwest5829

Posted
Posted
8 hours ago, nkg said:

I am no fan of Trump's trade negotiations, but nobody seems to mention that the US is collecting a lot of tax money on the back of tariffs.

 

The US collected $7 Billion in September, which would equate to an annual total of over $80 Billion by September 2020.

And as we all know money is the most important consideration ...

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White Christmas13 Gold Member

White Christmas13

Posted
Posted
8 hours ago, Cryingdick said:

 

What I was implying is that many things from Europe are no longer in vogue or the height of trendiness. Europe no longer makes anything you can't obtain here that's made here. Fondue you will find is a French word.  You understand parts of Switzerland are French right? 

No parts of Switzerland speak French it is not part of France 

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Mavideol Ruby Member

Mavideol

Posted
Posted
3 hours ago, ThomasThBKK said:

Asia is doing the same, including Thailand: 

https://blog.taxamo.com/insights/digital-tax-news-south-east-asia

 

 

My opinion? 

Kinda makes sense, Facebook, netflix and co earn money in thailand, france and co and should pay taxes there.

Global companies, should pay taxes where they make money and not only in the US or some taxheaven like ireland-dutch shells or caymans.

 

Since most global Internet companies are US based, they will suffer most.

 

oh boy, he will be taxing Thai goods, 100% tariffs ready on 555

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Mavideol Ruby Member

Mavideol

Posted
Posted
11 minutes ago, White Christmas13 said:

No parts of Switzerland speak French it is not part of France 

no part of Switzerland is part of France but some part of Switzerland speaks French, some part of Switzerland speaks Italian and some other part speak German but all of these parts form the country of Switzerland, @Cryingdick is incorrect (not the first time) on his statement, it appears he's from the USA, thus give him the benefice of the doubt, they usually are not good with geography, some of them  don't know the name of their neighbors on the north or south  555

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melvinmelvin Gold Member

melvinmelvin

Posted
Posted
55 minutes ago, Mavideol said:

no part of Switzerland is part of France but some part of Switzerland speaks French, some part of Switzerland speaks Italian and some other part speak German but all of these parts form the country of Switzerland, @Cryingdick is incorrect (not the first time) on his statement, it appears he's from the USA, thus give him the benefice of the doubt, they usually are not good with geography, some of them  don't know the name of their neighbors on the north or south  555

 

and if you now add in Romansh you should have covered all 4 spoken languages in Switzerland

 

latin is also in use for certain purposes

 

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HuskerDo Senior Member

HuskerDo

Posted
Posted
8 hours ago, Mavideol said:

really a new agreement with Mexico & Canada, do you care to provide supporting data to back up your statement

Check with Nancy Pelosi. I'm busy. She said the agreement is soon to be ratified by the House. Done deal.

 

https://www.cnbc.com/2019/11/14/nancy-pelosi-says-a-usmca-trade-deal-breakthrough-could-be-imminent.html

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nkg Silver Member

nkg

Posted
Posted
12 hours ago, bristolboy said:

What you are claiming makes no sense. Apparently, you think that because the tariffs hurt China's exports to the US that somehow that means it can't be hurting US consumers. Those tariffs are paid for by the importers and those higher prices result in higher prices for consumers. Only in the alternative universe of Donald Trump do American citizens not pay higher prices when things cost more.

 

You didn't read what I said.

 

Chinese goods have not got more expensive for US customers. Here is why:

 

https://www.forbes.com/sites/kenrapoza/2019/05/17/here-is-how-china-is-really-paying-for-tariffs/#67ded16c1fae

 

Quote

Some China manufacturers are lowering prices to help their American clients pay for their orders now that the cost of doing business with them has gone up. Others are moving lower-skilled, labor-intensive manufacturing to Vietnam, Bangladesh, Malaysia, and India. That's a cost of blue-collar labor for China, a country that wants to move up the value chain and make microchips and develop code for video games. Odds that the stitch-and-sew factory worker can do that are slim.

 

Yes, importers have also taken some of the cost, but so far they have been absorbing this rather than passing it on to the customers.

 

These importers will be looking at other countries to see if they can supply the same products. South Korea and Taiwan are rubbing their hands their hands with glee. Which is the WHOLE POINT of the tariffs - reduce the US's dependance on China.

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nkg Silver Member

nkg

Posted
Posted
12 hours ago, sonos99 said:

Yes but the US govt is paying out $16 billion in aid to farmers due to loses caused by Trumps trade war.

 

Last time I checked, $16 billion was a smaller number than $80 billion.

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