The two Czech ruling coalition parties agreed on Wednesday to introduce a 5% digital tax on the local revenues of global internet giants such as Amazon and Google, news agency CTK quoted Labour Minister Jana Malacova as saying on Wednesday.<\/p>\n\n\n\n
The government has long planned to impose the tax on firms with global revenue over 750 million euros ($853 million)annually, 100 million crowns ($4.28 million) turnover in the Czech market and more than 200,000 user accounts. It was not immediately clear if any of those parameters would change.<\/p>\n\n\n\n
The initial plan was to impose a 7% tax on big tech companies\u2019 local revenues from targeted advertising, digital marketplace provision and user data sales despite opposition from the United States where the biggest firms are based.<\/p>\n\n\n\n
The Czech Republic would follow other countries in Europe with its digital tax after the European Union failed to reach a bloc-wide agreement. The Czech legislation is still subject to parliamentary approval.<\/p>\n","protected":false},"excerpt":{"rendered":"