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Big Tech Compliance Tracker: Facebook Faces $6.06 Million Fine From South Korea; Big Tech Tax Becomes Due In France

PYMNTS

million of the 18 million users of the social media company in Korea was given to operators beyond Facebook without them knowing between May 2012 and June 2018. to the nation’s prosecution for a criminal probe. The French Finance Ministry has told Big Tech firms that the Digital Service Tax is now due, PYMNTS reported, citing Reuters.

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Big Tech Compliance Tracker: UK Regulators To Form Digital Markets Unit; Italy Fines Apple $10 Million Over Claims About iPhone Water Resistance

PYMNTS

UK Regulations to Create New Digital Markets Unit. antitrust regulators are creating a Digital Markets Unit that will be given the duty to enforce rules applicable to Big Tech firms. That new division will fall under the country’s Competition and Markets Authority (CMA). Apple Faces $12M Fine Over iPhone Marketing.

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What ‘Patchwork’ eCommerce Taxes Mean For Black Friday – And Beyond

PYMNTS

And in the wake of all those sales lies a pressing issue for merchants plying their trades online: figuring out the tax liabilities. After all, commerce is increasingly done across state lines, and remote sellers have the lure of selling into new and far-flung markets. States have been defining their parameters for economic nexuses.

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Economists Upbeat On Jobs, Wages — But Not Because Of Tax Reform

PYMNTS

A new survey from the National Association for Business Economists suggests economists are optimistic about U.S. wages and employment, though not yet because of tax reform. Ninety-four percent said the industry most likely to see sales rise is the goods-producing market.

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NRF Increases Sales Forecast For 2018

PYMNTS

With tax reform and other positive economic inputs, the National Retail Federation said that sales are expected to grow more than previously predicted. Tax reform and economic stimulus have created jobs and put more money in consumers’ pockets, and retailers are seeing it in their bottom line.”.

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The 2018 GonzoBanker Awards

Gonzobanker

GonzoBankers, 2018 has been a troublesome year. about the best and worst in banking for 2018 and get fired up to start again in ’19. Ladies and gentlemen, we bring you the 2018 GonzoBanker Awards ! Although all banks faced stock headwinds in 2018, we give the nod to William Demchak at PNC Financial Services.

Fintech 102
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Asure Merger Consolidates Payroll Market

PYMNTS

payroll services market saw consolidation this week with Asure Software announcing Tuesday (July 3) that it acquired USA Payroll. Furthermore, USA Payroll provides customers with payroll and tax services, timekeeping, third-party administration and other back-office services. The tool helps businesses mitigate payroll compliance risk.

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