The French government on Wednesday introduced a tax aimed at internet giants like Google, Amazon and Facebook, forging ahead with stricter regulation on big tech without broad-based support from the European Union.
The 3 percent tax will apply to the French revenues of roughly 30 major companies, mostly from the U.S.
France's Finance Minister Bruno Le Maire estimated the tax will raise roughly 500 million euros ($565 million) per year.
The French tax alone would represent just a sliver of the revenues of American tech giants. But it could pave the way for further regulation of U.S. tech companies in Europe, including an EU-wide digital tax.
An EU-backed effort to pass a 3 percent tax on the revenues of big internet companies failed last year amid concerns from countries including Ireland and Germany, who feared retaliation from the U.S. The Organization for Economic Cooperation and Development (OECD) is currently examining a global digital tax but has said it won't come to a conclusion until 2020.
France's Le Maire has been an outspoken proponent of a digital tax, arguing Google, Amazon and Facebook benefit from lower tax rates than European companies. The French minister has said France would withdraw its own tax once the OECD reaches an agreement.