August 9, 2019

French parliament approves tax on digital tech giants

France has approved a digital services tax despite threats of retaliation by the U.S., which targets American tech giants. The 3 percent levy will apply to revenue from digital services earned in France by firms with over $845 million worldwide. U.S. President Donald Trump ordered an investigation into the tax, a step that could lead to the United States imposing new tariffs or other trade restrictions. France pushed ahead with the tax after EU countries failed to agree a levy valid across the bloc in the face of opposition from Ireland, Denmark, Sweden and Finland. Other EU countries including Austria, Britain, Spain and Italy have also announced plans for their own digital taxes.   Source: The Nigerian

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Aregbesola vows impose heavy taxes rich Nigerians minister

Rauf Aregbesola, a former governor of Osun state, has revealed his plans for rich Nigeria if he eventually becomes a minster – Aregbesola, speaking at the Senate screening as a ministerial nominee on Monday, July 29, said that he will impose heavy taxes on wealthy citizens in the country. The former Osun governor said that this move will help to lift the tax burden on small businesses in Nigeria A former governor of Osun state, Rauf Aregbesola, on Monday, July 29, said that if he is made a minister, he will impose heavy taxes on rich Nigerians. Aregbesola, who is a ministerial nominee for President Muhammadu Buhari’s second cabinet, said this as he was responding to questions from Senator Theodore Orji (Abia central) during the screening at the Senate on Monday, The Cable reports. The former Osun state governor said that the present taxation system does not pay much attention to the rich men in the country, and as such allowing them to abandon their responsibility to other citizens. He said that the taxes from wealthy Nigerians would lift the burden on small businesses in the country. Aregbesola said: “So, I am going to pioneer privilege taxes for those who have huge resources or wealth from which Nigerians must tap. “If I go into this, there might be some ill feelings in some quarters, so I won’t go deep into that. I will recommend serious taxation for wealthy people in Nigeria.” Earlier, Legit.ng reported that Aregbesola said on Monday that rumours of owed salaries in Osun during his tenure was due to mischief and ignorance. Aregbesola made this known during his turn for ministerial screening and confirmation before the Senate.   Source: Legit

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