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this post was submitted on 11 Sep 2024
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Still less than the lowest tax bracket in the US
Yeah but also this is only for their EU profit, so it’s really an even higher percentage.
It doesn’t really make sense to talk about money they made in other countries when talking about these fines, as if they make 5 billion in profit in country X and get fined 6 billion, they would still have lost money for operating in the country regardless of how much money they made other places. Since they lost money in the country, that fine would be high enough for them to want to fix their law breaking or totally pull out of the country, and so the fine accomplishes its purpose.