Huge Tax Would Be Imposed on Tech Giants, but Brussels Is Reluctant because of Trump
4 Articles
4 Articles
The EU Chief Tax Officer, Pupke Huxtra, ruled out the possibility of a uniform tax on major technology companies such as Amazon, Google and Meta for the time being, stressing the need to exhaust all options for a global solution before moving on to a single European step.
The European Commission is currently rejecting the introduction of an EU-wide digital services tax, despite strong French pressure. Taxation Commissioner Wopke Hoekstra said all options for a global solution must first be exhausted, the Financial Times reported.
Despite the US President's tariff threats, the EU insists on its digital laws. More rules will soon be added. Even diplomatically, there is hardly any restraint towards Trump-affiliated tech bosses in Brussels. EU politicians are also making Musk announcements.
European Commissioner for Tax Policy Wopke Hoekstra said the EU should wait until “we have exhausted all available possibilities to reach a global solution.” The US is cooperating with several countries to implement “digital tax exemptions.” US President Donald Trump is preparing to impose a digital tax. The European Central Bank warns of prolonged inflationary pressures.
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