Why the Gafa tax is costing Leboncoin a fortune

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Introduced in 2019, the tax on digital services, nicknamed Gafa tax, targets the big giants of the sector. We especially think of the traditional Google, Amazon, Meta, or Apple. But its criteria are broad enough to impact other emblematic digital companies in France, and in particular Leboncoin.

The Gafa tax hurts Leboncoin very badly

We were indeed surprised this Thursday by this announcement from the Norwegian group Adevinta. The company, known to be the owner of the classifieds site, reports having been notified by the tax authorities that a large part of its income in France will be subject to the Gafa tax.

In detail, Adevinta has provisioned 39 million euros, including 31 retroactively for the period 2019-2021, reports Challenges. By adding the 11 million euros of 2022, the addition is very steep for the group which recorded a net loss of 54 million for the third quarter.

Over the past three months, the activity of the Leboncoin site has also been hampered by the difficulties of the used car market, of which it is one of the spearheads. Visitors specifically interested in car purchases represent almost half of the portal.

Far from being discouraged, Adevinta is showing its ambitions for the year 2023. According to information from the economic magazine, the group is aiming for double-digit growth in sales, as well as an increase in its operating margin. .

How does the Gafa tax work?

As a reminder, the amount of revenue from the Gafa tax is 3% of the turnover of the digital giants. In addition to the big names in the sector, it is paid by all companies whose revenues exceed 750 million euros, including 25 million generated in France.

Gradually, the revenue from this tax on digital services is tending to increase, and the State expects to recover 670 million euros in 2023, and 591 million this year. Set up in 2019, it was a response from France, which was annoyed by the lack of agreement at the global level on the taxation of Tech giants. Discussions have indeed often been at a standstill within the OECD, particularly under the presidency of Donald Trump.

It could disappear soon when global taxation will have been put in place. Remember that 136 countries agreed at the end of 2021 for a minimum corporate tax rate of 15% worldwide. The idea is to undermine the optimization strategies which consist in transferring its profits to a State where taxation is more advantageous.

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