RIYADH ¨C Failure to reach a global deal on where and how much to tax digital giants such as Google, Amazon or Facebook would result in many digital tax regimes emerging all over the world, France¡¯s finance minister said on Sunday.
It would also likely trigger U.S. retaliatory tariffs, U.S. Treasury Secretary Steven Mnuchin told reporters, underscoring Washington¡¯s determination to thwart tax rules planned by France and other countries if no global deal is reached.
Speaking to Reuters on the sidelines of a meeting of world financial leaders, Bruno Le Maire said the gathering had been very useful in establishing consensus on such global tax rules.
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