Austria proposes taxing internet giants 5 percent of ad revenue

phys.org | 1/1/2019 | Staff
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Austria on Wednesday proposed taxing internet giants such as Google and Facebook five percent of their digital advertising revenue, a higher rate than France and other EU countries are seeking.

Austrian Chancellor Sebastian Kurz said the tax aimed to stop the "unfairness" of internet giants who have until now routed their sales through subsidiaries in low-tax EU members.

Government - Tax - Parliament - Euros - Year

The government hopes that the new tax, which still has to be approved by parliament, will bring in 200 million euros ($225 million) per year from 2020.

It targets businesses with an annual worldwide revenue of at least 750 million euros, of which at least 25 million euros is made in Austria.

Plans - Wednesday - Austria - Registration - Mandatory

In other plans announced on Wednesday, Austria will seek to make registration mandatory for online booking platforms, including home-sharing giant Airbnb.

The current VAT exemption for articles sold online for less than 22 euros will also be abolished as part of the changes.

Month - France - Bill

Early last month, France introduced a bill for a...
(Excerpt) Read more at: phys.org
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