Austria is seeking ways to make digital services like Alphabet Inc.’s Google or Facebook Inc. pay taxes for transactions with the nation’s internet users including internet searches, reports Bloomberg.
The Social Democrats’ plan has two other elements targeted at internet companies: It would extend the Austrian tax on advertising revenue to digital formats, and it would tax purely digital services that are acquired by Austrian customers from companies with no physical presence in the country.
“We need a new approach to make sure that taxes are paid where revenue and profit is made,” Andreas Schieder, the parliamentary head of Austrian Chancellor Christian Kern’s Social Democrats said.
Politicians will tax anything they believe they can get away with taxing.
The anti-tax Beatles warned about this.
If you try to search, I'll tax the words cause I'm the Taxman.
-RW
Maybe they're right. Maybe Austrian Economics DOES suck. :)
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