Brussels reportedly looks to capture Big Tech through tax on large corporations
Brussels is reportedly considering a broad annual levy on companies operating in the EU with revenue above €100 million, potentially capturing more income from US tech groups while avoiding singling them out.
1. Broad 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 pay a lump-sum contribution. The current proposal sets a fixed annual levy of €100,000 to €750,000.
2. Trade tensions loom
An EU official said expanding the levy to cover large companies could address opposition to a digital-only tax. US President Donald Trump threatened in June to impose a 100% tariff on goods from any country that taxes digital services provided by American companies.
3. Commission statement
The Commission said it remains ready to support the Council and European Parliament in reaching agreement on a new own-resources package, which it said is essential to finance shared priorities over the next decade.
