France introduces GAFA Tax on Global Internet, Technology Firm

France has recently introduced a new “GAFA tax” – named after the large internet and technology companies viz. Google, Apple, Facebook and Amazon – to ensure the global giants pay a fair share of taxes on their massive businesses in Europe. The so-called GAFA tax targeting major digital firms comes into force on 1st January 2019. Some other EU member states such as Britain, Spain and Italy are also working on national versions of a digital tax, with Singapore and India also planning their own schemes.