Austria’s Federal Council Approves 5% Tax on Digital Ad Revenue

Austria’s Federal Council On Oct. 10 approved a 5% tax on the digital advertising revenues of large tech firms.

The country joins a growing list of jurisdictions launching similar taxes targeting digital revenues generated by large tech firms like Apple Inc. and Alphabet Inc.’s Google.

• The levy will be paid by any firm which has 750 million euros ($826 million) of revenues worldwide and 25 million euros of digital advertising revenue in Austria. The tax was already approved by the country’s National Council Sept. 19 and is part of a wider tax reform package.
• Austria expects the new tax ...