Brussels Looks to Capture Big Tech Through Tax on Large Corporations, FT Reports
The proposal would tax companies with more than €100 million in EU revenue and could raise revenues without targeting US tech firms.
- On Wednesday, The European Commission is considering a broad levy on large corporations to raise revenues while avoiding a trade backlash from President Donald Trump, the Financial Times reported.
- President Donald Trump threatened a 100% tariff in June on goods from any country imposing digital services taxes; the Trade Representative has argued such levies discriminate against American companies.
- The Corporate Resource proposal requires companies with revenue exceeding €100 million to pay an annual lump-sum tax contribution; the current form sets a fixed levy between €100,000 and €750,000.
- Some European capitals oppose a pure digital tax to avoid upsetting Americans, with officials reporting significant opposition to the current Corporate Resource proposal.
- The European Commission is working to capture more income from tech groups, aiming to tax Apple, Meta, and Google without singling them out, according to six officials cited by the newspaper.
12 Articles
12 Articles
The European Commission considers the introduction of a tax on American technology companies under the guise of a general levy on large corporations in order to avoid a negative response from the White House, writes Financial Times, and the European Commission is considering taxing large American technology companies as part of a general tax on corporations in order to avoid a negative reaction from US President Donald Trump, writes RIA News. Ac…
The European Commission is working to tax US tech giants – including Apple, Meta and Google – not with a targeted digital tax, but with a broader levy covering all large companies, thus avoiding possible retaliatory measures from the Trump administration, the Financial Times reported.
The European Commission would tax US tech giants with an all-sector corporate tax. The broader-based tax rate aims to generate significant revenue for the European Union while avoiding potential trade retaliation from the Trump administration that could be triggered by a special tax specifically targeting the tech sector, Portfolio said.
Economy: The European Commission is looking for a way to collect more taxes from American technological giants without imposing a separate levy on them.
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