Turkey’s government has proposed a 7.5% tax on the revenue tech companies like U.S. companies Facebook Inc. and Alphabet Inc.’s Google generate in the country.
- Chip Harter, deputy assistant secretary for international tax affairs at the Treasury Department, said Sept. 11 that the U.S. intended to take trade action against countries that enact taxes aimed at U.S. companies.
- The tax will be applied to any company with 750 million euros ($834 million) of worldwide revenue and 20 million Turkish lire ($3.1 million) of digital revenue in Turkey.
- The tax hits social media companies, online marketplaces, and digital intermediation platforms like Uber Inc. It will also affect businesses in areas like online advertising and in-game or online video advertising sales.
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