GAFA tax: Companies have received their tax notice

"Companies subject to this tax have received a tax notice for the payment of the 2020 installments," said Bruno Lemaire. Not to mention the possible wrath of the American authorities, the GAFA have already taken the lead. Here's how.   The negotiations on the digital tax at the OECD have come to naught. “We had suspended the collection of the tax until the OECD negotiations were concluded. This negotiation failed, so we will collect a tax on the digital giants next December, "explained Bruno Le Maire, the French Minister of the Economy, in mid-October. "Companies subject to this tax have received a tax notice for the payment of the 2020 installments," the Ministry of the Economy said today. Facebook and Amazon "are among the companies" which have been notified "in recent days", assures for its part the Financial Times. So after firing the first ones, what should the French authorities expect from now on? Has

Coronavirus: more than 2 billion dollars for African SMEs

The African Guarantee Fund estimates that the continent’s small and medium-sized businesses will lose approximately $ 30 billion in 2020.
 
Coronavirus: more than 2 billion dollars for African SMEs

The African Guarantee Fund (AGF), a pan-African financial institution created to help small and medium-sized enterprises (SMEs), announced Monday, May 18, the establishment of a fund to finance African SMEs in difficulty due to the coronavirus pandemic.

“AGF's Covid-19 mechanism amounts to $ 1.2 billion in guarantees [€ 1.1 billion], which will allow banks to finance SMEs up to $ 2.4 billion at least for a period of two years, "said a press release.

AGF estimates "between 20 and 40 billion dollars", the loss of turnover for SMEs in Africa in 2020 due to the pandemic. "The consequences of the pandemic will continue to have growing negative effects on SMEs in Africa, both on the supply side and on the demand side," said FĂ©lix Bikpo, Managing Director of AGF. Consequently, we anticipate a deterioration in the solvency of SMEs. This factor is likely to increase the cost of credit to the financial sector, which will certainly increase its reluctance to finance SMEs in the absence of external stimuli. "




The African Guarantee Fund (AGF) is a non-bank financial institution, the objective of which is to promote the economic development of the continent, increase job creation and reduce poverty there by providing financial institutions with warranty solutions, specifically designed to support SMEs in Africa.

The main donors are the Danish development agencies (Danida), Spain (Aecid), France (AFD), Germany (KFW) and the African Development Bank (ADB).