The Agency wants to make digital giants to share profits derived from the Russian users. Major suppliers of Internet services, such as Google, Facebook and Apple may be required to pay taxes on profits from activities in Russia. The Finance Ministry believes that the Internet giants need to declare income in those jurisdictions where their users are.
It is reported by RBC with reference to the project “the Basic directions budgetary, tax and customs-tariff policy for 2020 and the planned period of 2021-2022 years.” As says the publication, is currently a digital company working around the world, pay taxes at the location of their headquarters, and many of them choose for their headquarters low-tax jurisdiction.
The Russian Ministry of Finance believes this approach is incorrect and proposes to change the law so that the company’s declared income for taxation in the jurisdiction where their users are. According to authorities, companies must share revenues from the Russian audience.
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