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

Rising gold prices

Gold resumed its bullish momentum in early November. Its price exceeded $ 1,950 an ounce by the end of the week. This is his highest level in a month and a half. The yellow metal is benefiting from the accelerating global pandemic and economic uncertainties. 

Rising gold prices

The sudden acceleration of the Covid-19 and containment measures in several countries only deepen the economic crisis and darken the prospects for a recovery. In this context, investors are looking for shelter. They shy away from risky assets like stocks and buy gold, considered a safe haven.

The yellow metal is indeed stable and risk free, which reassures investors in this time of economic uncertainty. According to the World Gold Council, investor demand for gold coins and bars rose sharply in the third quarter. It reached just over 222 tonnes between July and September 2020, 49% more than the same period last year. 



Gold is also benefiting from the dollar's weakness against other currencies. And since the yellow metal is listed in dollars on the stock exchanges, it automatically becomes cheaper for buyers with other currencies. Gold still has a bright future ahead of it. Joe Biden’s victory sets the stage for a massive economic stimulus package, which will weaken the dollar and, in turn, benefit the yellow metal again.

Who benefits from this rise in gold? In addition to savers who have invested in gold, mines, said Didier Julienne, a metals expert. According to him, for three years, the prices of many mines have recorded an increase of 50%. They produce gold for $ 500, $ 600, or $ 1,000 an ounce, while they sell it for $ 1,900.