Italy approved a new tax on digital companies, including US tech giants, as part of its 2020 draft budget on Wednesday, a move that could draw threats of retaliation from Washington.
The levy, due to be introduced from next year, will oblige companies such as Facebook, Google and Amazon, to pay a 3% levy on Internet transactions, according to a text of the draft budget.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!