The United States plans to impose retaliatory tariffs on six countries. Because those six countries have imposed digital taxes on Internet-based companies. As a result, US companies such as Google, Facebook and Amazon are taxed in those countries.
In retaliation, the United States plans to impose tariffs on goods from six countries. The amount of this duty can be around hundreds of billions of dollars annually.
According to documents released by the US Trade Representative’s Office (USTR), it could face tariffs of up to 25 per cent a year, from Austrian grand pianos and British carousels to Turkish carpets and small Italian fish. News Bloomberg.
The USTR has proposed to impose tariffs on the six countries that have brought US companies under the tax net. According to Bloomberg, the total annual value of taxes imposed on U.S. companies is about ৮৮ 60 million. The Organization for Economic Co-operation and Development (OECD) is trying to bring a digital meaning to the digital tax of each individual country. Although the company has not yet reached an agreement. The United States has said it supports the OECD. However, they will maintain the options, including tariffs.
United Kingdom: The United Kingdom is imposing a 2% tax on the income of certain search engines, social media platforms and online marketplaces. Companies earning more than কোটি 500 million from digital services and more than ৫০ 25 million from certain digital services in the UK will be covered by the tax. The USTR estimates that the UK could earn কোটি 325 million a year from US companies. On the other hand, products related to industrial supplies, makeup, cosmetics, clothing, carousel and other entertainment will face US tariffs.
Italy: Companies that earned more than কোটি 850 million worldwide last year and more than লাখ 5.5 million from digital services in Italy will be subject to digital tax in Italy. The USTR estimates that US companies will have to pay the Italian government about ১৪ 140 million a year. Among the potential Italian products facing US tariffs are caviar, handbags, suits and neckties.
Spain: Spain has imposed a 3% tax on income from certain digital services related to online advertising services, online intermediary services and data transmission services. Companies earning more than আয় 850 million worldwide and more than লাখ 3 million from certain digital services will have to pay the tax. In this case, the US companies have to pay about 155 million dollars in taxes annually. On the other hand, shrimp and footwear products may be subject to US tariffs.
Turkey: Last year, Turkey imposed a digital tax on companies that earned 850 million euros worldwide from digital services and more than 20 million lira in Turkey. In this case, US companies will have to pay about ৬ 160 million in taxes annually. On the other hand, products such as Turkish carpets, hand-woven carpets and ceramite tiles will face US tariffs.
India: India is imposing a 2 per cent tariff on the income of foreign companies providing digital services, including digital platform services, digital content sales, digital sales of a company’s own products, data and software related services. In this case, US companies will have to face about 55 million digital taxes a year. On the other hand, the United States is imposing tariffs on imports of shrimp, bamboo products, gold jewelery and cane furniture.
Austria: Austria is imposing a 5 percent tax on total revenue from digital advertising services. Companies earning more than 850 million euros worldwide and more than 25 million euros in the country will come under this tax. In this case, the Austrian government has to pay about 45 million dollars annually to the US companies. On the other hand, leather goods, textiles, optical telescopes and microscopes will face US tariffs.