Stock Focus: Watching the Levels on Shares of Abeona Therapeutics Inc. (ABEO)
The EU will unveil proposals for a digital tax on US tech giants on Wednesday, reported France 24. The special tax is the latest measure by the 28-nation European Union to levy fees on Silicon Valley giants and could further inflame a trade row pitting the EU against US President Donald Trump.
As the proposed digital tax would be applied on the basis and geography of digital users, Facebook (FB) would face levies, along with Alphabet’s Google (GOOGL), and Amazon (AMZN), among others. Companies with annual revenue of less than $924 million may not face the new fees. EU Economics Affairs Commissioner Pierre Moscovici will present proposals aimed at recovering billions of euros from mainly US multinationals that shift earnings around Europe to pay lower tax rates.
The new tax has been ...