Italy will join France and Austria in taxing tech giants such as Apple Inc. and Facebook Inc. starting in 2020, the government said Oct. 16 in its budget plans.
Parliament had already adopted a 3% tax as part of its 2019 budget, but previous Minister of Economy and Finance, Giovanni Tria, wanted a Europe-wide agreement before issuing the necessary implementing legislation.
- The original tax would have applied to revenue from online advertising, online sales, and data processing for companies with global annual revenue of at least 750 million euros, and at least 5.5 million euros from digital ...
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