EU considers bigger levy on large companies to tax Big Tech
The European Commission is looking to collect more money from Apple, Meta, Google, and other US tech companies, according to the Financial Times, which spoke with six officials who are familiar with the discussions.
The Commission plans to do this by introducing a levy on large companies overall. Their goal is to avoid a tax that targets only tech companies, which could upset the Trump administration.
The plan is based on an existing proposal called the Corporate Resource for Europe, or CORE. Under this plan, any company in the EU with yearly revenue over €100 million would pay a lump sum each year to the EU budget.
Right now, these payments range from €100,000 to €750,000 a year. For big multinational companies, this is only a small part of their earnings, so Brussels is considering ways to increase the amount collected.
“Some (EU) capitals are opposed to a...
Copyright of this story solely belongs to thenextweb.com. To see the full text click HERE
