France and the United States have agreed on a common international framework to end the dispute over imposing French taxes on US Internet giants, according to French Finance Minister Bruno Lemerre.
"We have reached agreement on a common international framework," AP quoted Lemerre as saying after talks with US Treasury Secretary Stephen Mnuchin on the sidelines of the World Economic Forum in Davos.
According to Lumiere, the agreement stipulates that his country postpone the amounts of money required for its digital tax until December 2020, while the United States will suspend sanctions that threaten to impose it on France, which will not accept whether to withdraw or suspend the tax imposed on Internet companies as long as there is no international solution.
France has announced a wait-and-see over its plans to impose taxes on US technology companies that are making returns in France, while US President Donald Trump has threatened to respond by imposing tariffs.
In July, the French parliament announced the adoption of a law that imposes taxes on revenues generated by digital companies such as Google, Apple, Facebook and Amazon, while the European Union threatened last month that it would respond uniformly to Washington's threats to impose tariffs on French products.