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Europe’s deliberate digital tax heightens tensions with U.S.

WASHINGTON — A worldwide try to stop multinational firms from shifting their earnings to lower-tax jurisdictions is setting off a battle between the U.S. and Europe, as policymakers on either side of the Atlantic spar over efforts to impose taxes on international companies.

On Wednesday, the European Fee is predicted to take intention at tech giants with a proposal to noticeably revamp how know-how firms are taxed within the 28-nation European Union. The plan, outlined in a draft obtained by the New York Instances, would tax digital media firms primarily based on the place they generate income, moderately than the place they’ve their regional headquarters, which are sometimes in nations reminiscent of Eire and Luxembourg which have decrease tax charges.

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