France’s Finance Minister Bruno Le Maire announced that a European Union-wide tax on top digital companies like Google and Facebook is on the way. He told an interview published on January 20 that the new tax could be finalised by the end of March.

“We made a compromise offer to Germany in December and I am convinced that a deal is within arm’s reach between now and the end of March. With the European elections just a few months away, our citizens would find it incomprehensible if we gave up on this,” Le Maire told the Journal du Dimanche newspaper.

As reported by the Reuters news agency, European Union finance ministers tried but failed in December to agree a tax on digital revenues, despite a last-minute Franco-German plan to salvage the proposal by narrowing its focus to companies such as Google and Facebook.