
Taxing big IT’s ad revenues
US state Maryland is planning to tax big IT-companies advertising revenue. Lawmakers in the state are on the verge of issuing the nation’s first tax on revenue derived from digital ads sold by big IT-companies like Facebook and Google, the New York Times reports. Maryland’s House of Delegates has voted to override the governor’s veto of a proposed law, and the State Senate is expected to follow suit.
The tax could generate USD 250 million in the first year after enactment, with most of that money going to schools.
If the tax passed, it would signal the arrival on US shores of a policy pioneered by European countries, and it’s likely to set off a fierce legal fight over how far communities can go to tax the tech companies, adexchanger.com commented. Other states are pursuing similar efforts and are part of an escalating debate about the economic power of the tech giants and their status as gatekeepers for communication and culture
Moonshot News is an independent European news website for all IT, Media and Advertising professionals, powered by women and with a focus on driving the narrative for diversity, inclusion and gender equality in the industry.
Our mission is to provide top and unbiased information for all professionals and to make sure that women get their fair share of voice in the news and in the spotlight!
We produce original content, news articles, a curated calendar of industry events and a database of women IT, Media and Advertising associations.