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Thursday, 07 March 2019 06:45

FRANCE UNVEILS 3% TAX ON DIGITAL GIANTS

It is the first in an expected wave of European levies aimed at big tech companies. The so-called GAFA tax — named after its targets Google, Apple, Facebook and Amazon — will apply to firms with global annual revenues of over €750 million and French revenues over €25 million. It’s expected to raise around €0.5B a year. The move comes amid mounting criticism of the amount of tax that tech giants pay in Europe.

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