Home Daily Blitz Russia Slaps Facebook With ‘Google Tax’
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Russia Slaps Facebook With ‘Google Tax’

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The following is an excerpt from rt.com | April 10, 2017 |

Beginning April 25, the California-based company will start paying 18 percent value added tax (VAT), known as the ‘Google tax’ in Russia, reports business daily Vedomosti.

Over a hundred foreign corporations have already registered in Russia. They include Google, Apple, Microsoft, LinkedIn, Netflix, Bloomberg, the Financial Times, and Turkish payment service provider Payby.me. English professional football club Chelsea, also had to register due to video content distribution.

Roughly half of the registered firms sell software and computer games with 30 percent of corporations distributing music content as well as movies and books, according to an official as quoted by the daily.

About 15 percent of the registered companies are trading platforms and online booking services, with several firms providing assistance in search systems.

For more visit: rt.com

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