France President Nicolas Sarkozy Has asked its government officials to find out the ways to Tax Online Gaints like Google,Yahoo, Facebook and others for the revenues they generate by showing online ads in France.

According to report from France Governement, The money which would be collected from this tax could be used to fund legal alternatives for buying books, films and music on the internet. Currently, Web companies like Google are only being taxed in US where their headquarters are located for all revenues generated worldwide.

According to sources, this tax can generate up to 20 million euros ($29 million) a year to help finance projects to boost online cultural content and to pay artists.

Olivier Esper, director of public affairs for Google France said ” The Proposed tax is a negative sign for the innovative business and it could slow down the innovation process.The better way was to find efficient business models which could support the content creators in much better way”.

Sarkozy also approved the report’s recommendation that France’s competition regulator review the online advertising market to assess Google’s “possible dominant position,”

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