The EU is preparing to impose a so-called "digital tax" on revenue of major technology companies in the European market.
According to the proposals of the European Commission, the tax can be imposed on the advertising revenues generated by such digital giants as Google, the revenue received by Apple and Spotify from subscribers, as well as the revenue from the sale of digital data by companies to third parties.
The tax is likely to be set at a rate of 3 percent, but discussion within the European Commission is still ongoing. The tax is expected to be applied on companies with an annual global turnover of more than 750 million euros and total taxable revenue in the EU of more than 50 million euros.
The proposals of the European Commission are expected to cause discontent among the large U.S. technology firms that have long complained of unfair tax assessment in the EU.