The French Parliament on Thursday adopted, by a final vote of the Senate, the introduction of a tax on `GAFA’, making France one of the first countries to impose a tax on digital giants.

The GAFA tax refers to an acronym for Google, Apple, Facebook and Amazon.

The digital tax is endorsed by the opposition-controlled upper house, paving the way to the eurozone second largest power to unilaterally tax internet giants by three per cent on much of their digital sales in France.

This is related to advertising, websites and the resale of private data.

The tax was initially adopted by the National Assembly, the lower house of parliament, on July 4.

GAFA targets digital companies with global annual sales of more than 750 million euros ($845.6 million) and sales in France of at least 25 million euros.

Introduced in France from Jan. 1, this three per cent tax on digital gross sales would help to collect 400 million euros this year and 650 million euros by 2022.

SOURCE: https://www.trendingaccounting.com/2019/07/france-imposes-digital-tax-on-google.html

Great

Google, Apple, Facebook and Amazon.(GAFA)

Nice one

Naija should follow suit especially facebook. Our youths and upcoming generation too like facebook hence we patronize then wella

Not to forget many Nigerians also advertise their products on there and pay facebook in naira

Its about time they pay tax.
But las las even if them pay tax e go enter voicemail

Nigeria would have been better if we had a good tax system and transparency in management of the funds

China be like

This is wise
Goodmorning Nlanders

Nigeria should do same ...we can start with 1 or 2%

Una no dey sleep

Great idea!

Onyemadonald:
The French Parliament on Thursday adopted, by a final vote of the Senate, the introduction of a tax on `GAFA’, making France one of the first countries to impose a tax on digital giants.

The GAFA tax refers to an acronym for Google, Apple, Facebook and Amazon.

The digital tax is endorsed by the opposition-controlled upper house, paving the way to the eurozone second largest power to unilaterally tax internet giants by three per cent on much of their digital sales in France.

This is related to advertising, websites and the resale of private data.

The tax was initially adopted by the National Assembly, the lower house of parliament, on July 4.

GAFA targets digital companies with global annual sales of more than 750 million euros ($845.6 million) and sales in France of at least 25 million euros.

Introduced in France from Jan. 1, this three per cent tax on digital gross sales would help to collect 400 million euros this year and 650 million euros by 2022.

SOURCE: https://www.trendingaccounting.com/2019/07/france-imposes-digital-tax-on-google.html

Interesting times I expect more European countries to levy taxes on them - let's see how trump would feel after he banned Huawei in the US

On point!

Gentlewarrior1:
Nice one

Naija should follow suit especially facebook. Our youths and upcoming generation too like facebook hence we patronize thenmwella

Its about time they pay tax.

so is that how facebook makes moneysmh

See better country... If na naija, na only to dey borrow upandown and pile up igbese for us

Joromi12:
so is that how facebook makes moneysmh

yes, that's how they make money.

Even Seun should be made to pay tax (Oga Seun, no vex)

czarina:
yes, that's how they make money.

Even Seun should be made to pay tax (Oga Seun, no because)

this ya massage i need am. Happy ending dey

ok

Let the trade war begins

Gentlewarrior1:
Nice one

Naija should follow suit especially facebook. Our youths and upcoming generation too like facebook hence we patronize thenmwella

Its about time they pay tax.

*paid moreover, what is tax if it's embezzled ?

With this money they will use it to develop there country more and more. Not the dead end here in nigeria

Bad

We hear

They'll find way of transferring the cost to the consumer

Great. These big tech faints seems to be invisible. In most countries they operate in, they only make use of third-parties and avoid setting up a visible structure there. They just make profits and leave like ghost.

But expect reactions from the US

Nice One...

. Another backward unwise policy by France. If other countries like America in a similar way tax French companies that are already dying across the world, they will start crying blue murder.

henryadex:
They'll find way of transferring the cost to the consumer

They already are, YouTube for example is already forcing people to watch adverts whether you like it or not