The European Union (EU) recently announced that it is imposing a digital tax on major tech companies operating within its borders. The tax will be a 3% levy on revenues generated from digital services, such as online advertising and the sale of user data. This move is a response to the slow progress in international negotiations on a global digital tax framework. The EU expects to raise billions of euros in additional revenue through this tax, which will help offset the economic impact of the COVID-19 pandemic. The United States (US) has expressed concerns about the tax, arguing that it unfairly targets American tech companies. In response, the US has threatened to impose tariffs on EU goods in retaliation. This latest development highlights the ongoing tensions between the EU and the US over digital taxation.
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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.
