The Czech government approves a digital tax on Google, Facebook, and Amazon

The Czech government approved a 7% digital tax proposal on Monday to increase Treasury revenue by taxing advertising services for global Internet giants such as Google, Amazon, and Facebook. According to the proposal, the Czech government will tax the income from the sale of precision advertising, multilateral digital interface (MDI) and user data provided by large Internet companies. Although approved by the government, the proposal still needs to be passed by the legislators in the parliament.

“Czech Republic” by milan.boers is licensed under CC BY 2.0 

In March of this year, the French government introduced a digital tax to tax large technology companies such as Google, Amazon, and Facebook to achieve fiscal fairness. According to French Finance Minister, Bruno Le Maire, France will impose a 3% digital tax on about 30 Internet giants, most of which are from the United States.

According to a proposal by the European Commission, the EU will impose a 3% business tax on large technology companies such as Google, Facebook, and Amazon. A large part of these companies’ revenues come from Europe, but many EU member states complain that large technology companies such as Google are avoiding taxes by transferring profits to low-tax countries such as Ireland and Luxembourg.

Via: Reuters