The European Union (EU) has announced plans to propose a new digital levy that aims to tax tech giants like Google, Amazon, and Facebook on their revenue generated within the EU. The proposed tax is part of efforts to ensure that tech companies contribute their fair share to the countries where they operate. The EU’s digital levy is seen as a way to level the playing field for European companies that have been struggling to compete with large tech firms. The tax is expected to generate billions in revenue for EU member states and could help fund the bloc’s recovery efforts following the COVID-19 pandemic. It is likely to face opposition from the United States (US) and other countries where tech companies are based, who argue that such levies amount to unfair discrimination against foreign firms.
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Arwen Volkov, A graduate of the University of St. Gallen in Switzerland with a degree in International Finance, Arwen specializes in sustainable finance and green investments. She began her career at an investment bank in London, where she developed financing models for environmentally friendly projects. Known for her analytical and strategic thinking skills, Arwen is a sought-after financial consultant. In her spare time, she mentors fintech startups, contributing to their growth strategies. She is also a nature enthusiast and an amateur photographer.
