Tuesday, September 27, 2022

European Union to impose more taxes on US technology companies


Izaan Zubair
Technology writer @ WNObserver

Senior officials in Europe are looking into the possibility of applying more taxes to US technology companies, said the European Union’s competition commissioner Margrethe Vestager, That Europe should lead the way to impose a tax targeting Google, Amazon, Facebook and Apple, regardless of whether it is possible to reach a global consensus on this issue.

“We have become an increasingly digital world and there will be a big problem if we do not find a way to raise taxes,” she said in an interview with France Inter radio. “The best thing is the global solution, but if we want to get results in a period of time Reasonable, Europe must take the lead.”

Vestager has a good reputation in Europe for its relationship with Silicon Valley companies, where it is subject to heavy fines and is forced to change its practices and policies that run counter to local competition law.

The digital tax will be a greater form of regulatory pressure on technology giants worldwide.

According to the site cnet In a separate move on Monday, the UK government announced plans to introduce an independent regulator to social media companies.

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