“Google Tax” brought in $76 million – Getmantsev

The tax payment was declared by 53 large companies, including Google, Apple, Facebook, Instagram, OnlyFans, the citizen’s representative claimed.

The state budget of Ukraine will receive about $76 million from the payment of the so-called “Google tax”. This was announced by MP, head of the Verkhovna Rada Committee on Finance and Tax Policy Daniil Getmantsev on his Facebook page on Wednesday, August 10.

“Yesterday, the deadline for filing declarations for the ‘Google tax’ expired. This is VAT, which from this year large multinational corporations must pay on electronic services provided in Ukraine. The total declared that amount for the second quarter is about $ 76 million, ” Getmantsev wrote.

According to him, 53 large companies have declared tax payments, including Google, Apple, Facebook, Instagram, OnlyFans.

“Thanks to the implementation of modern European norms for the taxation of electronic services, the army received large funds during the war. None of the payers and consumers of services went bankrupt, despite the forecasts of the marginal that “expert” from social networks,” the People’s Deputy added.

It will be remembered that on June 28, 2021, President Volodymyr Zelensky signed a law according to which foreign technology giants such as Apple, Google, Microsoft, Netflix and others will pay 20% VAT. Then Bankova noted that such taxation policies are becoming common practice in foreign countries, for example, in EU countries, Australia, Belarus, Kazakhstan. The law took effect on January 1, 2022.

Earlier in June, the G7 countries agreed on the introduction of the so-called digital tax, a tax on the profits of transnational companies in the digital economy. The event was called historic and revolutionary.

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