September 5, 2019 / 8:21 AM / 12 days ago

Czech finance ministry sets plans for digital tax by mid-2020

PRAGUE, Sept 5 (Reuters) - The Czech Finance Ministry submitted plans to start taxing global internet giants from the middle of 2020, proposing a 7% rate on targeted advertising, multilateral digital interface use and user data sales, it said on Thursday.

The ministry has been working up plans on a digital tax this year and confirmed on Thursday the charge would be aimed at firms with global revenue over 750 million euros ($835.80 million) annually and 50 million crowns ($2.16 million) in the Czech market.

It added the tax could raise state revenue of 2.1 billion crowns for the 2020 budget and 5 billion crowns annually after that.

$1 = 23.1860 Czech crowns $1 = 0.8973 euros Reporting by Jason Hovet and Robert Muller; Editing by Alison Williams

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