Sunday, May 24, 2015Sunday, May 24, 2015

France's Hollande slams Internet giants on tax

Published on Feb 7, 2014 2:41 AM

PARIS (AFP) - President Francois Hollande said Thursday that France would not continue to tolerate the tax optimisation strategies used by multinational Internet giants like Google.

"This is not acceptable and that is why, at both the European and the global level, we must ensure that tax optimisation... can be called into question," Mr Hollande said on a visit to the offices of Internet sales company in the Paris suburbs.

His comments follow reports that France is seeking one billion euros (S$1.72 billion) in tax from Google over its fiscal strategies. "Everyone must be in the same competitive situation, including on the fiscal level," Mr Hollande said.

"When I go to the United States in a few days, we have agreed with President (Barack) Obama to make this effort on tax harmonisation," he said.

Enjoy 2 weeks of unlimited digital access to The Straits Times. Get your free access now!