Austria wants to impose tax on internet giants’ advertising revenues
Written by Millennium on April 5, 2019
Vienna – Austria’s federal government has proposed levying a tax of as much as five percent on advertising revenue of big-tech corporations like Google, Amazon, Facebook and Alibaba.
The tax, which is much higher than the levy proposed by France earlier this year, is aimed at preventing the “unfairness” of internet giants that have routed their sales via subsidiary units in EU members with a low taxation base, according to Austrian Chancellor Sebastian Kurz, as cited by AFP.
The proposed levy will be applied to big internet corporations with annual worldwide revenue of at least €750 million ($843 million), of which at least €25 million ($28 million) is generated in Austria. The government is also planning to introduce mandatory registration for online booking platforms, such as home-sharing giant Airbnb.
SOURCE: RT News
