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December 10, 2025

The right message ?

According to the graph below, based on an analysis by David Fant using EU fine data and company filings, EU regulators collected about €3.8 bn in fines from large US tech companies in 2024, while Europe’s listed internet and software companies paid roughly €3.2 bn in income taxes over the same period.

The contrast is striking. It raises an uncomfortable question: is Europe’s most profitable tech “business” really fining foreign platforms rather than nurturing its own global champions? Is this the message of strength we want to send to our trading partners – and the best way to attract successful IT companies and technology investment to Europe?

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