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EU plans to tax 2-6% of tech giants' sales: French economy minister

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The European Union will unveil a directive within weeks on taxing between 2 per cent and 6 per cent of big technology companies' revenue, French economy minister Bruno Le Maire said in an interview with the weekly newspaper Journal du Dimanche.

[PARIS] The European Union will unveil a directive within weeks on taxing between 2 per cent and 6 per cent of big technology companies' revenue, French economy minister Bruno Le Maire said in an interview with the weekly newspaper Journal du Dimanche.

"It will be closer to 2 per cent than 6 per cent," Mr Le Maire told the paper, saying the EU directive is a starting point that will be refined. "I prefer an applicable text very quickly rather than endless negotiations," he said.

The European Commission is considering the tax on revenue as it's easier than focusing on earnings, given the different rules between countries. EU countries have been looking into methods to tax companies like Amazon.com, Facebook and Alphabet's Google in a way that captures the true value created in the region.

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