Wednesday , September 18 2019
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Google to pay €1bn to end French tax probe


Google is to pay French authorities almost €1bn (£900m) to end a long-running investigation into its taxes. The settlement includes a €500m fine and additional taxes of €465m, but it is less than the tax bill authorities had accused Google of evading. It rounds off a four year investigation that saw authorities raid Google’s Paris headquarters in 2016. Investigators said ... Read More »

France accuses Boris Johnson of seeking pre-Brexit ‘mini-deals’


France has accused Boris Johnson’s government of seeking to manipulate the Brexit process by negotiating a series of unacceptable “mini-deals” with individual EU member states instead of dealing with the EU collectively. Amélie de Montchalin, the French minister for Europe, said the British were trying to organise bilateral meetings “to organise what they call a ‘managed no-deal’”. “What the British ... Read More »

Customs officials from nine countries check lorries in Luxembourg


Over the past two days, lorries with dangerous goods were stopped and checked at the border with France and at the Howald Customs Centre. The initiative occurred in the context an international collaboration project which has been running through Europe for two years. This year, it was Luxembourg’s turn. Pascal Grisius worked in a team of 40 customs officials, including ... Read More »

Eurotunnel reveals new customs system as it says it’s ‘ready for Brexit’


Eurotunnel is ready for Brexit, it told investors today, as it aimed to quell fears that there could be disruption to the key trade route. Around 5,000 trucks use the Channel Tunnel every day and the Paris-listed company has introduced a two-lane system for trucks post-Brexit. The system will see customs officials carry out checks on each side of the ... Read More »

US, France to lead talks on a global digital tax


PARIS : France and the United States agreed to take leading roles in talks aimed at reaching a deal on a global digital tax by mid-2020. French Finance Minister Bruno Le Maire said Thursday that both countries will be working in a task force with the Paris-based Organization for Economic Cooperation and Development. Le Maire will meet with U.S. Treasury ... Read More »

Trump Offers Johnson Sympathy in Facing Brexit

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The Latest on the summit of leaders from the Group of Seven democracies (all times local): U.S. President Donald Trump offered U.K. leader Boris Johnson sympathy as he tries to win a Brexit deal, suggesting that the European Union would drive a hard bargain and that it would be “tough.” Speaking at the end of the G-7 summit in France, ... Read More »

Tehran ready to discuss Macron’s new plan to keep Iran in nuclear deal


The French president floated a new proposal to Iran on how to soften the blow of the US withdrawal from the nuclear deal. The Iranian foreign minister said Tehran is ready to discuss it. The 2015 international agreement lifted economic sanctions from Tehran in exchange for accepting restrictions on its nuclear industry. Last year, Washington pulled out of the deal ... Read More »

Amazon is passing along costs of a new digital tax to thousands of French sellers


Virginie Lemaire recently opened her email to an unsettling message from Amazon: fees for sellers like her in France will be increasing by 3%. Lemaire, a single mother of two, started her jewelry company Perle d’un jour in 2011. Trained as an artisan jeweler, she makes handmade custom pieces like necklaces, bracelets and rings. The French small business owner started ... Read More »

France expels German national ahead of G7 summit


PARIS: French authorities have expelled a German national ahead of next week’s G7 summit in France, which he was supposed to be covering for a German radio station, the interior ministry said Thursday. The man, whose name was not released, was arrested in southern France a week ago, and had been the target of an expulsion order since July 18, ... Read More »

France threatens to BLOCK UK fish exports and not let ‘a single kilo’ into EU


Ministers have pledged to use Britain’s EU divorce as an opportunity to reclaim control of the country’s territorial waters and have rejected linking fishing rights to a future trade deal with Brussels. This has infuriated the regional fisheries committee in Northern France, who are behind the threats to blockade Calais. Its chairman Olivier Lepretre said: “If there is a hard ... Read More »

CyBERG prepares to expand Kajahu concept to U.K., France


CyBERG Nyrt., a company listed on the Xtend platform of the Budapest Stock Exchange (BÉT) which runs Kajahu, a “social digital restaurant brand,” is preparing to open a unit in London and has signed an agreement with a consultant which will support its expansion in France. CyBERG said in a disclosure that it has signed an agreement with Gira Conseil, ... Read More »

Amazon to pass cost of France’s new digital tax on to French clients


Amazon plans to pass on the costs of France’s new digital tax on internet giants to the businesses that use its Marketplace platform for finding customers, instead of taking the hit itself, the US online retailer said Thursday. The levy, approved last month, put France at the vanguard of countries seeking to force big technology firms to pay more in ... Read More »

‘Brexit red lines must change!’ France refuses to negotiate backstop with Boris Johnson


FRANCE will refuse to discuss Brexit with Boris Johnson unless the new Prime Minister moves on his red lines, Macron’s state minister for European affairs, Amélie de Montchalin, said last week. Mr Johnson has warned European leaders the “anti-democratic” Irish backstop must be abandoned if the UK is to strike a divorce deal. However, France is refusing to meet Mr ... Read More »

US will hit France with ‘a substantial reciprocal action’ in fight over technology tax


President Donald Trump on Friday doubled down on plans to retaliate against a French tax on American technology giants including Facebook and Amazon, suggesting the US would soon roll out countermeasures. “France just put a digital tax on our great American technology companies. If anybody taxes them, it should be their home Country, the USA,” the president wrote on Twitter. ... Read More »

France July business confidence 105 vs 106 expected


Prior 106 Manufacturing confidence 101 vs 102 expected Prior 102 Slightly weaker numbers across the board with the services confidence also seen slipping from 107 in June to 106 in July. That said, confidence levels have recovered somewhat after the yellow vest protest at the end of last year – though they are sitting below highs seen at the end ... Read More »

Kyiv customs office detains truck with 98 paintings from France

A cleaner mops the floor next to the painting titled "Napoleon Bonaparte, First Consul, Crossing the Alps" by French artist Jacques-Louis David at the Louvre Abu Dhabi Museum during a media tour on November 6, 2017 prior to the official opening of the museum on Saadiyat island in the Emirati capital on November 8. - More than a decade in the making, the Louvre Abu Dhabi opens its doors this week, bringing the famed name to the Arab world for the first time. The museum currently has some 300 pieces on loan, including an 1887 self-portrait by Vincent van Gogh and Leonardo da Vinci's "La Belle Ferronniere". (Photo by GIUSEPPE CACACE / AFP) / RESTRICTED TO EDITORIAL USE - MANDATORY MENTION OF THE ARTIST UPON PUBLICATION - TO ILLUSTRATE THE EVENT AS SPECIFIED IN THE CAPTION

Employees of the Kyiv customs office have found 98 paintings, which were hidden away from customs control among wooden frames in a truck that arrived from France. One of the paintings dates back to 1842, the press service of the Ukrainian State Fiscal Service said. “The Frenchman, who acquired Ukrainian citizenship in 2017, is listed as the recipient of this ... Read More »

France to vote on ratifying contentious EU-Canada trade deal


French lawmakers in the National Assembly will vote on Wednesday on whether to ratify a controversial trade deal between the European Union and Canada. The EU-Canada Comprehensive Economic and Trade Agreement (CETA) was approved by the European Parliament two years ago, but it must also be ratified by each of the member states of the European Union to become permanent. ... Read More »

France tech tax: What’s being done to make internet giants pay more?


France is to become the first country in Europe to introduce a tax on tech giants like Facebook, Amazon and Google. The move has upset the US. So how does it work, what are other countries doing and what could the impact be on these huge companies? What is the new digital tax? The French government has approved a 3% ... Read More »

France, US in spat over future ‘Gafa’ tax on top tech firms


The French finance ministry has slammed a US call for an inquiry into France’s “Gafa” Bill, which passed into law Thursday. The Law will impose a full rate of tax on leading tech firms Google, Apple, Facebook and Amazon. The treasury in Paris is outraged at the US hinting at hiking tax on French goods as a retaliatory measure. The ... Read More »

France issues first 10-year bond at negative interest rate


PARIS: France issued its first-ever 10-year bond at a negative borrowing rate on Thursday, meaning investors pay, rather than receive, interest for the privilege of owning French sovereign debt, said the state debt management agency, AFT. AFT said in a statement that it issued 9.996 billion euros ($11.3 billion) in long-term bonds, with just under half — or 4.972 billion ... Read More »