I mean, given tax shenanigans, it also wouldn't surprise me if FAANG had significantly more revenue on paper in Ireland than any EU company (except maybe the plane leasing ones?)

GDPR fines can be based on global revenue.

Which contributes to the impression that it’s a backdoor tariff.

If it was based on local revenue, companies could easily structure it so that the regulation has no teeth.

That's a very poor argument. No company wants to pay any fines at all.

I could ask you, what very large company has been comfortable with a fine and has repetitively paid it for over a decade?