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Austria increasing size of planned digital tax, finance minister says

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Austria has increased the size of its planned tax targeting tech companies, to 5 percent of their advertising revenue in the country, from 3 ...

VIENNA: Austria has increased the size of its planned tax targeting tech companies, to 5 percent of their advertising revenue in the country, from 3 percent previously, Finance Minister Hartwig Loeger said in an interview with ORF radio on Wednesday.

The planned levy is part of a package of measures targeting large tech companies including Google, Amazon and Facebook, which Austria's right-wing government accuses of not paying their fair share in taxes.The planned measures also include lowering the threshold for value-added tax to apply to packages entering the country, as previously announced. Loeger told ORF the various measures were expected to raise more than 200 million euros a year.

 

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