Czechs Plan 7% Digital Tax on Large Global Internet Companies

The Czech government plans to impose a 7% digital tax on large global internet companies, the Finance Ministry says in a April 30 statement.

• Tax would apply to advertising and sale of user data on internet platforms that have global revenue over 750 million euros.
• New tax should bring about 5 billion koruna ($219 million) of extra revenue to state budget per year.
• Ministry expects new tax to kick-in in mid-2020.
• Finance Minister Alena Schillerova says new tax is reaction to lack of EU-wide solution.
• Schillerova said April 25 that the tax would range from 3 percent to 5 percent. ...