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French Government Institutes 3 Percent Digital Tax

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-based internet companies, announcing Wednesday (March 6) the introduction of a digital tax that will impact companies including Google, Facebook, and Amazon. According to a report in CNBC , France’s finance minister announced the 3 percent tax, saying it will apply to about 30 big companies, mainly from the U.S.

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EU Will Not Implement Digital Tax, Agrees To Internet Tax Reform

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The European Union has announced that it will not move forward with a digital tax plan covering the entire EU, but also said it would look at reforming tax laws for internet companies, according to a report from Reuters. The global tax reform is being prepared by the Organisation for Economic Co-operation and Development (OECD).

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Crypto Fails To Impress For Corporate Tax Payments

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to allow businesses to pay their corporate taxes in bitcoin. During the first tax season in which crypto payments were an option for Ohio companies, only two businesses in the state actually used cryptocurrency to do so. According to Good Audience , hundreds of thousands of retailers currently accept cryptocurrency.

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Saving Main Street: Cities Pick Up The Recovery Role

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Cities are starting to supplement the federal government in an effort to save Main Street businesses from the destructive economic effects of the COVID-19 pandemic. For example, Seattle announced that it will allow eligible businesses to defer business and occupation taxes and expand its Small Business Stabilization Fund.

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Why Saving Main Street Will Take More Than Just More Money

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And second, the Opportunity Fund has also seen that every dollar it lends to an SMB creates $2 in local economic activity in the form of wages, spending and tax revenues. They’ll also need operational and technical advice across a wide spectrum of subjects. Many Small Businesses Only Have Two Weeks Of Cash.

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A Rough Map To The New World Of Online Sales Taxes

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Supreme Court opened the door to state collection of sales taxes for eCommerce purchases, questions swirled about software, Congressional action, marketplace sellers and how consumers would react. Speculation about hassles caused by a lack of tax-calculating software is a “nonissue,” he added. A day after the U.S.

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NRF On The Case For Revising eCommerce Sales Tax Laws

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Wayfair ruling gave states and cities permission to tax remote sellers and online marketplaces based on their economic participation in the state, regardless of whether they had physical presences. Online retailers aren’t sitting still when faced with new taxes — and some are even fighting back in court.

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