Austria plans 3% tax on profits of internet giants – Kurz

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 ($865 million) a year, 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. The chancellor added that no Austrian companies would be hit by the new levy, Reuters reports. The government in Vienna has mentioned Amazon and Facebook as companies that would have to pay the tax.