In the meantime, the tax has been removed from the list of potential revenue sources
Life
The European Commission appears to be abandoning plans for a digital tax on major tech companies, marking a victory for both American tech giants such as Apple and Meta, as well as for President Trump.
The original idea to introduce a digital tax—intended to help pay off debts incurred during the pandemic—was presented in May and was set to be part of the next seven-year EU budget, which was published on Wednesday, 16 July.
In the meantime, the tax has been removed from the list of potential revenue sources. Tech companies could still face a levy based on a revenue threshold of €50 million within the EU, but they are no longer being specifically targeted as was originally planned.
Instead, the European Commission is considering the following measures: an EU-wide tax on tobacco products (currently taxed at the national level), a levy on discarded electronic equipment, and a corporate tax for companies with annual revenues above €50 million.
Emerce