04:15An agreement between G7 member states to "tax activities without physical presence" was welcomed by French Minister of Economy and Finance Bruno Le Maire, during a press conference in Chantilly on Thursday.
"This is the first time that members of the G7 take into account the fact that there are firms that make profit without any physical presence or with a very limited physical presence, and that these activities must be taxed," said Bruno Le Maire.
The French Finance Minister also touched on Facebook's crypto 'coin' Libra and said that G7 countries expressed a "strong worry" over this project. He then added: "We cannot accept that private firms implement their own currency without any democratic control. We refuse the emergence of private states that would have the same privileges as states, without the checks and obligations that go with it."
The press conference took place after a meeting of finance ministers and central bank governors of the G7 countries.
France: G7 member states reach agreement to tax digital activity
An agreement between G7 member states to "tax activities without physical presence" was welcomed by French Minister of Economy and Finance Bruno Le Maire, during a press conference in Chantilly on Thursday.
"This is the first time that members of the G7 take into account the fact that there are firms that make profit without any physical presence or with a very limited physical presence, and that these activities must be taxed," said Bruno Le Maire.
The French Finance Minister also touched on Facebook's crypto 'coin' Libra and said that G7 countries expressed a "strong worry" over this project. He then added: "We cannot accept that private firms implement their own currency without any democratic control. We refuse the emergence of private states that would have the same privileges as states, without the checks and obligations that go with it."
The press conference took place after a meeting of finance ministers and central bank governors of the G7 countries.
An agreement between G7 member states to "tax activities without physical presence" was welcomed by French Minister of Economy and Finance Bruno Le Maire, during a press conference in Chantilly on Thursday.
"This is the first time that members of the G7 take into account the fact that there are firms that make profit without any physical presence or with a very limited physical presence, and that these activities must be taxed," said Bruno Le Maire.
The French Finance Minister also touched on Facebook's crypto 'coin' Libra and said that G7 countries expressed a "strong worry" over this project. He then added: "We cannot accept that private firms implement their own currency without any democratic control. We refuse the emergence of private states that would have the same privileges as states, without the checks and obligations that go with it."
The press conference took place after a meeting of finance ministers and central bank governors of the G7 countries.