The European Commission is looking to collect more money from Apple, Meta, Google, and other US tech companies, according to the Financial Times, which spoke with six officials who are familiar with the discussions.
The plan is based on an existing proposal called the Corporate Resource for Europe, or CORE. Under this plan, any company in the EU with yearly revenue over €100 million would pay a lump sum each year to the EU budget.
The official suggested expanding the levy to include nearly all large companies. This way, Brussels could target tech giants without mentioning them directly.
That seems likely to result in, after some spinoffs, a lot of smaller companies in the EU, each with under €100 million in revenue, owned by larger holding companies.
The holding companies are then operating in the EU and would be subject to the levy, right? So, then increase the levy based on the revenue of owned companies.
