Ad tax to boost digital sovereignty – 台北時報

• Google has since last year been collecting tax information related to the US earnings of Taiwanese YouTubers and withholding the share of their proceeds that they owe in taxes, complying with a US government directive. In contrast, Taipei has not been able to tax the online advertising revenue Google generates in Taiwan.

  This glaring asymmetry is an excellent example of the emerging importance of digital sovereignty, through which a country asserts its rights in the supposedly borderless digital space.

  Google last year accounted for 28.6 percent of the world’s digital advertising market, followed by Facebook’s 23.7 percent, Alibaba’s 8.7 percent and Amazon’s 5.8 percent. Google’s revenue was US$257 billion and its profit was US$76 billion, whereas Facebook’s revenue was US$117.9 billion and its profit US$46.7 billion.

  The enormous annual surplus generated by those two companies gives rise to two issues.

  First, to which governments should they pay taxes? An obvious answer would…

Read Full Story: https://www.taipeitimes.com/News/editorials/archives/2022/07/24/2003782303

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source: https://news.oneseocompany.com/2022/07/23/ad-tax-to-boost-digital-sovereignty_2022072324205.html

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