Tax on whom?
VAT is paid by the customer not the supplier.
Much the same as import duties.
This is just an additional tax on the locals, with global suppliers used as tax collectors. It isn't a tax on revenue or profits of the supplier. They still make out like bandits.
So it isn't costing the globalist money directly, just pushing up local prices (import duty) to try and encourage local suppliers to compete.
However it seems to be pitched as "we will tax the tax avoiders" not "we will tax you for using these suppliers".