(Bloomberg) -- Tech giants should be made subject to a global tax for their use of people’s personal data, according to Norway’s Finance Minister Trygve Slagsvold Vedum.
“We must find a fair way to distribute the financial gain from using our data, to the benefit of those who actually generate the resource,” Vedum said in a speech delivered at an event related to the meeting of Group of 20 nations in Rio de Janeiro on Wednesday. Worldwide cooperation is needed for such a tax to work, given the digital world is global, he said.
A number of countries, including in Europe, have introduced or flagged plans to introduce similar taxes on digital services, and such initiatives have in the past brought the US and some of its allies close to a trade war. While there are no truly global taxes, about 140 countries have agreed to a 15% minimum corporate tax rate.
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