The European Union has found a new way to increase revenues

European Union authorities are planning to impose heavier taxes on big technology companies, hoping to increase EU revenues but avoid a backlash from Washington. This was reported by Reuters with reference to a publication in the Financial Times (FT).

We are talking about a change to the so-called “Corporate Resource for Europe” (CORE), as a result of which all companies operating in the EU and having an annual income of more than 100 million euros will be required to make a one-time tax contribution each year. Today they are required to pay a fixed annual fee of between 100,000 and 750,000 euros.

We are talking not only about American, but about all large companies in general.

In this regard, the publication recalled that in June, US President Donald Trump threatened to impose a 100% tariff on all goods from any country that imposes a digital services tax on American companies.