EU considers increasing broad corporate levy to collect more from tech giants

The European Commission is considering increasing a proposed levy on large companies to collect more money from Apple, Meta, Google and other US technology businesses, the Financial Times reported, citing six officials familiar with the discussions. The Corporate Resource for Europe proposal would require companies in the EU with yearly revenue over €100 million to make annual lump-sum payments ranging from €100,000 to €750,000. Officials are considering broader coverage and higher collections to avoid explicitly targeting technology companies. Any EU tax plan requires approval from all 27 member states. An official cited opposition among EU capitals to both a digital tax and the broader levy.