Brussels looks to capture Big Tech through tax on large corporations, reportedly
Brussels is considering a broad levy on large companies operating in the EU to raise revenue while avoiding a backlash from the Trump administration, the Financial Times reportedly said. A proposal under consideration would apply to companies with annual revenue above €100 million; the current plan sets annual payments of €100,000 to €750,000.
1. Broader levy considered
The European Commission is considering changes to its Corporate Resource for Europe proposal that would require companies operating in the EU with annual revenue above €100 million to make a lump-sum tax contribution. The current proposal sets a fixed annual levy of €100,000 to €750,000, capturing only a small portion of a multinational company’s earnings.
2. Trade tensions
An EU official said some capitals oppose a digital-only tax because they do not want to upset the United States, while many more oppose CORE. U.S. President Donald Trump threatened in June a 100% tariff on goods from any country that imposes a digital services tax on American companies.
