EU Competition Commission Commissioner Margrethe Vestager said at a technology summit on Tuesday that the EU imposed a record $ 2.7 billion antitrust fines on Google in June, which will help to promote innovation.
Vestagal was criticized for targeting U.S. technology giants. She said on Tuesday that companies such as Google could stifle competition by using their monopoly position after a market has succeeded. This is a problem.
In a speech at the Web Summit held in Lisbon, Portugal, Vestagal said: "It will eventually close the door to innovation. & rdquo;
In June, Vestag raised a record ticket to Google because Google abused its dominance of the search engine market to place its own shopping service at the top of web searches. Google appealed the EU's decision in September this year, a process that could take years to resolve in court.
However, Vistaar believes that the European Commission has taken the right approach to ensure that small companies can innovate and have the opportunity to make progress with multinationals.
Vestagall said: "That is why big companies like Google have a special responsibility that they can not undermine competition. We have to fined Google because it failed to fulfill its responsibility. & rdquo;
She continued: "By ensuring that these markets are competitive, our decisions help drive innovation. & rdquo;
In his speech, Vestagal also criticized companies that benefited from a "special" tax arrangement that she believes will hinder fair play.
She said: "When a government provides a special tax treatment to a few companies, it is hard for anyone to compete on an equal footing. & rdquo;
In October of this year, the European Commission announced that it will bring Ireland to court because no taxes have been recovered from Apple. A year ago, the European Union ordered Ireland to impose Apple's 13 billion euros (about 150 billion U.S. dollars) of illegal government assistance.
The European Commission has also said recently that it is investigating whether Britain is providing a tax haven for multinational corporations.
When asked whether it was pressured by the U.S. plan to force the company to divert overseas funds back home, Vestage said she was not working to recover the tax.
She said: "This is not a question about the repatriation of funds. In Apple's case, its profits in Europe, North Africa and the Middle East are all related to an IP in Ireland. Therefore, this is a profit generated in Europe and should be taxed in Europe. & rdquo;
U.S. President Trump may announce a new plan ahead of Thanksgiving, prompting U.S. multinationals to transfer overseas funds back to China.
However, Vestage said that her team will continue to be eyeing US tech giants such as Google to monitor the profits they make in Europe.