French President Emmanuel Macron told the G7 summit that a deal has been reached for companies liable for the country’s new tax on digital sales, while work at the OECD continues to find an international consensus on new tax rules.

France will commit to pay a rebate if the amount due based on future rules is less than what companies will have already paid under the country’s current three per cent digital tax rate.

France had faced intense pressure from the US administration, which has since ordered an investigation to assess whether the digital tax unfairly targets US companies.

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