The Czech government has approved a plan to adopt a tax on internet giants like Google, Amazon, Facebook and Apple.
Joining France and some other countries, the measure would impose a 7% annual tax on companies’ digital business revenues in the Czech Republic. It would apply to companies with global sales worth more than 750 million euros ($830 million) and Czech revenue exceeding 100 million Czech crowns ($4.3 million).
Czech government approves digital tax aimed at internet giants
The Czech government approved a 7% digital tax proposal on Monday aimed at boosting state coffers by taxing advertising by global internet giants like Google and Facebook, the Finance Ministry said.
The proposed tax, which still must make it past lawmakers in parliament, covers revenue gained from targeted advertising, providing digital market places, and user data sales.