PRAGUE: The Czech Finance Ministry said on Tuesday it was finalising a plan to tax global internet giants and will submit a proposal by the end of May for a 7 percent rate.
The ministry said the tax would be aimed at selected internet services, mainly advertising. It said the tax could become effective around mid-2020 and conservative estimates showed the digital tax adding 5 billion crowns annually to state budget revenue."The digital tax will apply to the most significant global players and is a reaction to the failure of solving this on the European Union level," Finance Minister Alena Schillerova said.
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