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Mr Le Maire said in a speech last week that "internet giants are welcome in Europe but it's not right they pay so little in taxes," adding that new ideas needed to be explored to deliver fair taxation. Market Data Terms of Use and Disclaimers. More from the Financial Times: Trump urges Congress to pull together on tax reform France urges 'new momentum' over US tech groups tax Tax reform should be for the US, not the president. They hope to win political support for the idea from EU leaders at a summit on digital issues in Estonia later this month, and for the commission to draw up proposals on how to implement the plan by the end of the year. Currently, US technology groups such as Apple and Facebook are taxed in Europe based on profits rather than total revenues. Under EU treaties, tax measures require all members to back legal changes, meaning that Mr Le Maire would need support from low-tax countries like Ireland and Luxembourg for the initiative to become law. The French official said that the four countries would present the plans at a meeting of finance ministers in Tallinn on September Brussels has been looking closely at the issue "for a number of years," the spokeswoman said.

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