Asma Mhalla teaches the political issues of the digital platform economy at Sciences Po.
FIGAROVOX. - The Gafa tax brought in 375 million euros to the tax authorities in 2020 while Bercy expected 450 million. Can we still have hopes for this tax?
Asma MHALLA. - It
all depends on the "nature" of the hopes that we had been able to nurture and the point of view that we adopt. Several reading grids can be adopted.
From a purely doctrinal point of view, I would say, the idea is conceptually interesting since it makes it possible to change the traditional fiscal doxa which is currently inoperative. The digital economy, by its cross-border nature, cannot be effectively subject to a traditional corporate tax which depends on the physical location of the subsidiary. Consequently, the approach of evaluating the tax base on the amount of turnover and the place of its realization is more in line with this new economy. In other words, traditional corporate tax is precisely what enabled massive tax evasion by digital businesses.
From there, and from a purely financial point of view, the amount is obviously extremely small.
These sums are particularly so if we compare them with the real profits reaped by the digital giants on the French market but which still escape French taxation thanks to the - legal - mechanisms of fiscal dumping.
Moreover, they do not make it possible to really participate in the necessary efforts induced by the recovery plan.
The multiplication of unilateral taxes, of which France was one of the first instigators, indicates a diplomatic failure vis-à-vis the United States.
Asma Mhalla
The benefit is actually more political and symbolic. The Minister of the Economy Bruno Lemaire had made it one of his flagship fights and will allow the executive in place, during an election period, to hold a very simple political speech that is easily understandable by the French around the themes of tax justice. , fight against tax evasion or even a form of minimum fiscal sovereignty if not technological.
But this political rhetoric is precisely nothing more than that and does not make it possible to resolve the real fundamental problems facing the French economy: the quasi-monopolistic situation of the Gafa and the stifling of innovation, harmonization of global taxation. (ongoing but under the leadership and the American agenda), technological sovereignty in a context where Europe and France are falling behind which has become practically irrecoverable, etc.
Read alsoDigital sovereignty: "Europe is stifled by standards"
How are other countries that have introduced a Gafa tax doing?
These are mainly Italy, Spain, Great Britain and Turkey.
They are roughly in the same situation as France in terms of the amounts collected and the passing on of costs.
We find the same dynamics there.
The proliferation of unilateral taxes, of which France was one of the first instigators, indicates a diplomatic failure vis-à-vis the United States.
France and Europe have indeed constantly complained about American unilateralism but have proved incapable of providing lasting support to the work of the Commission, which was working on a European tax.
As long as we have a scattering of small unilateral national taxes, the substantive issues of fiscal dumping will persist.
However, the real solution is to arrive at an overhaul of the international tax system which would make it possible to neutralize tax havens and consequently, better link the place of economic activity with a national tax system.
This can only be done in the long term and at the cost of robust multilateral negotiations.
In fact, did Joe Biden really stimulate a dynamic in favor of this international taxation?
Yes, a real dynamic has been created in this regard.
A rate of 15% has been recorded between 130 countries and discussions are still ongoing.
In October, the signatory countries should move forward on the operational implementation of this tax, which should be effective from 2023.
It is also interesting to note that the Gafa support the US administration in this global taxation project.
Faced with the BATX and in the global technological race, the Gafa need the support of their federal state as much as they do.
Asma Mhalla
This is an innovative approach to economic policy.
By asserting that "
the runoff never worked
", that it was necessary to promote economic growth "
from the bottom up
"By denouncing excessive inequalities, Joe Biden launches very strong political signals and operates the beginning of a doctrinal revolution in a country reputed, wrongly moreover, to be ultraliberal. For him, it is about launching a program of economic and social overhaul. The sums that the United States could collect from this fiscal relocation would make it possible to finance the major stimulus plans announced with major axes around infrastructure, connectivity, R&D (research and development) and innovation. However, these elements are particularly critical for a country whose world leadership is heckled, in direct competition with China. The United States must equip itself with the means of this announced technological war. This also allows incidentally to coax theEuropean Union which demanded a fairer share of the pie and to make sure of it a form of allegiance whereas it is very courted by China.
In short, the acceleration of this subject in a few months is unprecedented in terms of international tax reform, all the more unprecedented since it was orchestrated by the United States.
It makes it possible to update tax doctrine, to calm public opinion, etc.
It is also interesting to note that the Gafa support the US administration in this global taxation project.
Faced with the BATX and in the global technological race, the Gafa need the support of their federal state as much as they do.
Beyond the simple tax question, the underlying geostrategic issues are in fact enormous, taxation being one of the
soft power
tools
available to the USA to maintain their global leadership while keeping Europe in its bosom. lower cost.