The European Commission is planning a new tax for high-volume companies to open up revenue streams. The levy will apply to all large companies operating in the EU with a net turnover of more than €50 million, which would also include digital companies like Meta and Apple.
A tiered system is intended to ensure that companies with the highest turnover make larger contributions, the Financial Times reported, citing the draft. This applies regardless of the corporation's headquarters. The End of a Purely Digital Tax The European Commission has declined to comment on the matter for the time being. It only explained that the proposal could still change.
According to the report, the Brussels authority is abandoning previous plans for a digital-only tax, which would have affected US tech companies like Apple and Meta in particular. However, these would also be covered by the new, broader levy. Response to Trump's Tariff Threats? The introduction of the tax requires the approval of all 27 member states. The plans were unveiled amid the ongoing customs dispute with the United States. US President Donald Trump has repeatedly criticized EU regulation of American technology companies.
