France Approves $11.2 Billion Internet Tax Based on Data Usage

• The French National Assembly approved a new internet tax on October 30.
• The tax amounts to 0.65 euros per gigabyte of internet data accessed by users.
• The tax is expected to generate $11.2 billion in revenue.
• Major companies like Google, Netflix, TikTok, and Meta will be affected by this tax.
• The tax was approved with a narrow vote of 11-10.