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Austria plans 3 percent tax on internet giants' profits

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Staff Writer | Friday January 11, 2019 3:00AM ET
Sebastian Kurz
Austria   Chancellor Sebastian Kurz

Austria will introduce a tax of 3 percent of the online profits of internet giants, defined as companies with sales of more than 750 million euros ($865 million) a year, Austrian Chancellor Sebastian Kurz said.


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The tax will be in addition to a planned European Union digital tax, Kurz told reporters at the start of a cabinet meeting on the outskirts of Vienna, adding that no Austrian companies would be hit by the new levy.

Austria has mentioned Amazon and Facebook as companies that would have to pay the tax.

 

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