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Asian and Latin American countries may impose new taxes on IT companies such as Google and Facebook

30.10.2018 11:00:45

A number of countries in Latin America and Asia, including Mexico, Chile, South Korea and India, are exploring the possibility of imposing additional taxes on the activities of IT giants like Google and Facebook. In addition to the existing taxes on corporate profits already paid by these companies, it is proposed to introduce a tax in the form of a percentage of the proceeds from the sale of digital services. Some countries may also impose a tax on services that collect data on citizens, for example, in the case of targeted advertising. A number of European countries, including the UK, are also considering this issue and may unilaterally impose a tax on digital services. Experts believe that new taxes can increase the costs of IT-companies by billions of dollars.

Latest News

31.07.2020 11:00:29

Asian stocks dwindle as global growth fears overshadow strong tech earnings

Asian shares recorded a turbulent session on Friday as weak economic data from the United States and surging coronavirus infections worldwide dragged market confidence. The decline followed despite upbeat U.S. tech gains and signs of rebound ...

30.07.2020 09:00:24

Asian stocks jump, dollar plunges on Fed’s policy

Asian stocks advanced on the prospect of ultra-easy monetary policy as the U.S. Federal Reserve kept interest rates near zero. Fed deemed it necessary to salvage the ailing economy, dragging the dollar down to a two-year low. The target range ...

29.07.2020 14:00:25

Tesla to supply new battery technology to other car manufacturers

On Tuesday, Tesla Inc.’s (TSLA.O) Chief Executive Officer Elon Musk announced that the automotive company would start to open its licensing software to supply powertrains and batteries for other car manufacturers. “Tesla is open ...

29.07.2020 09:00:24

Indonesia launches $7 billion loan guarantee scheme for 'priority' companies

Indonesia on Wednesday rolled out a 100 trillion Rupiah ($6.92 billion) loan guarantee scheme for prioritized businesses to keep them afloat as the COVID-19 situation continued to worsen around the world, the country’s finance minister ...

27.07.2020 13:00:23

Australia’s watchdog sues Google over data privacy issues

On Monday, the Australian Competition and Consumer Commission (ACCC) filed a case against Google (GOOGL) in federal court after allegations that the multinational technology company misled its consumers about the expanded use of their personal ...

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