What country has plans to implement a tax framework known as the ‘GAFA tax’ targeting internet corporations starting 1 January 2019?
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Answer: C. France
Explanation
France introduced the tax to ensure major technology corporations contribute fairly to public finances where they operate. The digital services levy specifically targets large multinational enterprises generating substantial revenue from French digital users. Lawmakers argued that existing international tax rules allowed technology giants to shift profits and avoid local taxation. The acronym GAFA represents four dominant technology giants namely Google, Apple, Facebook, and Amazon. Traditional tax laws rely on physical presence, which digital companies easily bypass by operating across borders online. The French initiative sparked international trade debates and led to discussions regarding a broader global tax framework.
The USA was the home country of the targeted corporations rather than the nation implementing the digital tax. Spain considered similar digital tax measures later but France was the pioneer in passing this legislation. Switzerland relies on different financial policies and did not lead the implementation of this specific tech tax.
- Subject
- Current Affairs
- Category
- World Current Affairs
- Topic
- —
- Difficulty
- medium
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