France can introduce pioneering taxes against techies

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The Lower House of the French Parliament passed a bill on Thursday to tax giant companies on the net, according to a summary of the AP.

The law would prevent tax evasion by Facebook, Google, Amazon, and others by charging a 3 percent tax on the French revenues of companies with a total revenue of more than EUR 750 million and more than EUR 25 million. Next week, the Senate will decide whether to accept the proposal.

According to the French Ministry of Finance, if the law passes, it can generate up to € 500 million per year in revenue for the budget, and this amount can grow rapidly.

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