France just put a 3% tax on e-commerce

France has recently approved the tax against the web giants: Google, Facebook, Apple and Amazon.

The French “Gafa tax” is largely inspired by the European project that failed to pass due to the reluctance of Ireland, Sweden, Denmark and Finland. The American authorities have started an investigation to see if the size of the new taxes represents an unfair commercial practice under the Us Trade Act of 1974.

The French Parliament is the one responsible for having approved the tax on web giants. The proposal provides for a 3% tax on the turnover of technology companies with revenues of more than 750 million euros globally and 25 million in the country.

The tax is nicknamed Gafa: an acronym for Google, Facebook, Apple and Amazon. The tax does not only affect US giants, but about thirty companies in all, including Chinese, German, British and Spanish companies.