United Kingdom, France… States get a lot of money from digital tax

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For more than two years since its implementation in the United Kingdom, Gaffa Tax has been paying large sums to the state. The government will collect £360m this year under the tax, which primarily targets the tech behemoths: Google, Amazon, Facebook and Apple.

This is good news for British public finances as the country enters recession. The tax on digital companies brought in three hundred and sixty million pounds, or nearly four hundred million euros.

Tax Update

That’s more than the UK tech giants pay in corporation tax. But this amount pales in comparison to the actual profits reaped by these giants of the net who practice tax optimization.

The tax, which will come into effect in April 2020, aims to levy a fair tax on income generated by digital companies. This was 2% of their revenue, which was made in British territory.

In France, 3% of turnover

In comparison, France’s gaffa tax is doing very well as it is 3% of their turnover. In 2023, the Gaffa tax should bring in 670 million euros for France.

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