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Daily Tax Report: International

Czechs Plan 7% Digital Tax on Large Global Internet Companies

April 30, 2019, 2:07 PM

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....
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