France is to become the first major economy to impose a tax on internet heavyweights. Dubbed the Gafa tax – an acronym for Google, Apple, Facebook and Amazon – the legislation will impose a 3% levy on the total annual revenues of the largest technology firms providing services to French consumers.
…tech giants, as monopolies, now presented a democratic challenge to governments. “Certain tech platforms have become the building blocks of our economy and democracy,” he said. “They have acquired a monopoly position today which gives them a footprint no other company has on the economy, so they need to see specific regulations applied … A company which has 1.4 billion citizens on its social networks can’t be treated like just any other company, with the same rules. A company that is the only search engine or messaging platform can’t have just the same rules as any other private company.”