The European Commission has dropped plans for a digital tax targeting Big Tech from its upcoming budget proposal, favoring a broader corporate tax instead. The move benefits U.S. tech giants like Apple and Meta and comes as EU-U.S. trade talks near conclusion. Instead, the EU may introduce levies on tobacco, e-waste, and companies with over €50 million in annual revenue. The final budget proposal is expected on July 16, though internal opposition may impact these new tax ideas.
Source: 9to5Mac
