Taxes on advanced technologies are becoming a reality in the EU. While US companies such as Facebook and Google play a growing role in Europeans’ daily lives, they pay little tax to their governments. For years, countries have reduced corporate taxes to attract businesses abroad. Now, this trend reverses for the first time, with France’s decision last week to impose a 3% digital tax on large tech companies that make money for its citizens, reports New York Times.
Britain has revealed similar taxation projects, like the European Union as a whole. The Trump administration is investigating whether a digital tax would be an unfair commercial practice, as it would have a disproportionate impact on US companies. In addition, the Economic Cooperation Organization is seeking a global solution.