Portugal's new streaming tax takes effect – Telecompaper

An amended Portuguese law imposing a 1% tax on the revenues of streaming platforms such as Netflix Inc., Amazon.com Inc.'s Prime Video and Walt Disney Co.'s Disney+ operating in the country came into effect on Jan. 1, Telecompaper reported Jan. 3, citing Lusa News Agency.

Proceeds from the tax will go to the National Cinema and Audiovisual Institute, according to the report.

The streaming companies will also reportedly pay an annual €1 million fee and an investment obligation of up to €4 million for film and audiovisual production in the country.