Officials around the world are grappling with ways to tax tech companies, who often report profits in low-tax jurisdictions like Ireland or Luxembourg, enraging other governments. The Austrian law applies to firms with annual sales of more than 750 million euros ($830 million) — providing at least 25 million euros are generated in Austria. The government claims that it has introduced “tax equality” between digital and traditional media, which is already subject to the same levy on advertising revenues. Austrian newspaper the Standard broke the story on Saturday, publishing excerpts from a German-language email purportedly from Google to its advertisers announcing the rise in fees. Canada is the latest country to promise a levy on tech firms after France introduced a three percent tax last year on revenues earned in the country.

Source: The Guardian February 01, 2020 11:03 UTC