The EU could make Big Tech pay tax on its turnover
The European Commission has outlined a new plan that it thinks could make Silicon Valley pay its fair share.
The news: Reuters reports that a new tax proposal would force any firm with global revenue over $920 million to pay 3 percent tax on EU revenues above $60 million.
But: The rules must be approved by EU lawmakers. It’s unclear if that will happen.
The idea: Many European nations think Big Tech pays too little tax. This is a measure to try to fix the problem, and would hit most of the biggest culprits—from Google and Apple to Uber and Airbnb.
Why it matters: International tech tensions are running high, and and the EU is bracing for a possible trade war with the US. This could further complicate matters.
Deep Dive
Tech policy
How Russia killed its tech industry
The invasion of Ukraine supercharged the decline of the country’s already struggling tech sector—and undercut its biggest success story, Yandex.
AI might not steal your job, but it could change it
AI is already being used in the legal field. Is it really ready to be a lawyer?
How to preserve your digital memories
Following recent announcements by Google and Twitter, more data deletion policies are coming.
Your digital life isn’t as permanent as you think it is
Google will delete accounts after two years of inactivity, and experts expect more data deletion policies to come
Stay connected
Get the latest updates from
MIT Technology Review
Discover special offers, top stories, upcoming events, and more.