3% may not sound much but this is on revenue, not profit.
Might be hard to do, it needs to be approved by president of Poland which is a big fan of Trump (contrary to current government)
The current president is vetoing every law he can
Surprising no one.
companies whose global revenues exceed €750 million, effectively targeting larger U.S. tech companies
For me the brass-neckedness of this is that as soon as it comes to tax, all the big “U.S.” companies are actually Irish, Bermudan and Caymanian companies.
They have more balls than Canada. Pokes Carney with a stick.
Paging r/polandball
Can you poke Canada with a stick now?
I thought he loved Three Percenters
Wait, how does this work? I am for the EU to retaliate with tariffs against the US, but how is Poland able to do it by itself? Isn’t the EU supposed to have a common trade policy?
Well… Taxes are not unified, trade policy is supposed to be. So this is kinda gray area as it is a tax affecting trade specifically. But VAT kinda gives the precedence that countries can tax foreign company business.
Yeah but my understanding was that an important part of the EU is the negotiation of trade deals that regulate tariffs, and that the countries more or less gave their sovereignty in that area to the EU. Maybe I was mistaken?
Again, what is the difference between a tariff and a tax? Tariffs don’t apply to domestic companies, while taxes do. EU controls tarrifs, but not taxes. This tax technically applies to all companies, domestic or foreign above certain revenue, although in reality, there are no domestic companies it would affect.
So it is a tax, not a tariff by a technicality. It may even be the case that a court will strike this law down, saying they can’t pretend it is a tax when it is clearly meant to tax only foreign tech giants.
