Brussels Considers Broad Corporate Tax to Capture Big Tech Revenue
· World · Economic Times, Financial Times, Reuters
The European Commission is exploring a broad levy on large corporations to increase EU revenue while avoiding direct confrontation with the US administration. Officials are considering expanding the "Corporate Resource for Europe" (CORE) proposal to include all companies operating in the EU with annual revenues exceeding €100 million. This approach aims to capture income from major tech firms like Apple, Meta, and Google without specifically targeting them, which could trigger retaliatory tariffs from the US. Current CORE proposals involve a fixed annual levy between €100,000 and €750,000, which critics argue is insufficient. The US government has previously threatened 100% tariffs on countries that implement digital services taxes on American companies.
Why it matters
This policy shift represents a strategic effort by the EU to secure tax revenue from multinational tech giants while navigating the threat of a trade war with the US.
Read the original report — Economic Times
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