French Finance Minister: Will maintain a digital service tax on Internet giants cannot accept the emergence of new currencies

In recent years, the United States and the European Union and European countries have been arguing in the economic and trade fields.

On the 17th, the G7 finance ministers will be held in Chantilly, France. The “Digital Service Tax Disputes” that broke out in France and the United States recently became the core issue of this conference.

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On the 11th of this month, France passed a draft law on the digital service tax imposed on Internet giants. The US Internet industry was the most affected. The United States first counterattacked and announced 301 investigations into the tax, trying to pass economic and trade relations. Putting pressure on France has brought tension between France and the United States.

The G7 Finance Ministers' Meeting on the 17th was the first meeting of the finance ministers of France and the United States after the digital service tax dispute. French Minister of Economy and Finance Lemer said that France will not give in to the threat of the United States on this issue.

French Minister of Economy and Finance Lemer:

We will try our best to reach an agreement on the digital service tax issue at this G7 finance ministers meeting, paving the way for the 2020 agreement under the OECD framework, which is certainly difficult.

We have seen that the recent attitude of the United States has become tough, and they have launched a 301 investigation into France. I want to reiterate that we will maintain this digital service tax because this is a decision made by the French people through the Parliament. Once an agreement is reached on this tax at the international level, France will cancel this tax.

However, many media analysts believe that due to the obvious differences between France and the United States, it is unlikely that the meeting will reach an agreement. In June of this year, American social media company Facebook said it would issue encrypted digital currency, which attracted much attention. Digital currency has also become the focus of the G7 finance ministers meeting.

French Minister of Economy and Finance Lemer:

(The currency issued by each country) is guaranteed and has many restrictions. We cannot accept the emergence of new currencies. This new currency has the same effect as other currencies, but is not subject to the same restrictions and does not have the same guarantees and responsibilities. We are worried that digital currency will be used for money laundering and that this currency is used to finance terrorist activities.

Source: CCTV News

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