About 50% of the affected companies would be American.
This is an attempt by the EU to combat base erosion and profit shifting by digital companies that often don’t have a physical presence in many jurisdictions. Many of these companies allocate income to low-tax jurisdictions to lower their effective tax rates, making it difficult for traditional businesses to compete.
Learn more about the proposed EU-digital tax and more in the full Tax Policy Update from McGuireWoods Consulting.
Radha Mohan | Lai King Lam
Senior Vice President
Senior Vice President and Director