Russia Joins list of countries in quest of more Tax revenue From Google, Apple
Amid growing monetary deficits Russian govt sees American companies as source of revenue.
international locations throughout Europe had been in the hunt for more tax income from US tech companies equivalent to Google and Apple. Google and Apple have so far agreed to pay a few hundred million bucks to the united kingdom and Italy, with extra such agreements prone to apply.
Now, Russia is attempting to get in on the action. according to Bloomberg, the Russian parliament is now bearing in mind a bill that “would practice an 18 p.c value-delivered tax to as so much as 300 billion rubles ($3.9 billion) of income that Google, Apple and different foreign companies earn each and every 12 months.”
The move is partly stimulated by Russia’s tough financial situation and “greatest fiscal deficit in six years.” Declining oil prices and Western economic sanctions have taken a toll and created a recessionary setting within the united states of america.
The Russian government beneath Vladimir Putin has systematically tightened control over Russian media, rolled again press freedoms and sought to exert affect over the internet and on-line content material. to that end, the federal government has sought to compel US companies to house all Russian-associated web information on servers throughout the country.
(Some images used beneath license from Shutterstock.com.)
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