Global Tech Tax Is Expected to Arrive This Summer

Apple Inc. iPhone smartphones sit on display at the company's Marina Bay Sands store ahead of its opening in Singapore, on Thursday, Sept. 10, 2020. Apple's shares have surged this year on rising demand of iPhones, iPads and other tech gear needed to work and study from home during the pandemic.Photographer: Bloomberg/Bloomberg

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February 2, 2021 at 6:45 AM EST

Hey all, it’s Natalia. Tech giants including Alphabet Inc., Apple Inc. and Facebook Inc. could soon be hit with higher taxes around the world after global talks moved closer to an agreement.

Clashes between the European Union and Trump administration had hobbled progress over who outside of the U.S. gets to tax American tech companies, but President Joe Biden’s Treasury secretary pick, Janet Yellen, last week injected renewed optimism for a global deal.

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