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An acronym for Google, Apple, Facebook and Amazon.
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The French parliament recently imposed it.
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The legislation will impose a 3% levy on sales generated in the country by non-tax paying online giants.
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France will be 1st major economy to impose a tax on internet heavyweights.
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At present, digital companies pay nearly no tax in countries where they have large sales like France.
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Objective: To stop multinationals from avoiding taxes by setting up headquarters in low-tax European Union (EU) countries.
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The tax would be applied only to companies with global revenues in excess of €500 million and revenue of at least €25 million from UK activities.