VIENNA (Reuters) - 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 on Thursday.
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.
($1 = 0.8669 euros)
(Reporting by Francois Murphy; Editing by David Goodman)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app