Italy plans to introduce web tax in 2020

Italy wants 3% tax for big web companies

Italy plans to introduce web tax in 2020. Source:

Italy has plans to introduce a so-called web tax in 2020, Ecommerce News reports. The Southern European country has announced plans to introduce this tax in its new budget draft. The web tax is aimed at online giants like Amazon and Google.

If the tax plans get through, major online retailers and other web companies are forced to pay a tax of 3 percent on their digital sales. With the tax, Italy wants to collect about 600 million euros per year, writes.

The tax is really aimed at bigger companies; enterprises with a turnover of at least 750 million euros and a turnover of digital services of not less than 5.5 million euros. The proposed tax rule does not only apply to the supply of goods and services online, but also to online advertising and the transmission of data collected and generated in connection with digital interfaces.

Basically, Amazon, Facebook, Google, and other ecommerce giants are affected, the Austrian website says.

The proposed tax plans of Italy are similar to those of France. In March, it became known that France wants a 3% tax for large internet companies as well.

SEE ALSO: Digital tax: what is it and how it works

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