article thumbnail

Big Tech Compliance Tracker: Facebook Hints At EU Pullout Over Data Transfers Laws; Appeal Filed Over Appleā€™s $15B Tax Bill On Ireland Operations; In-App Billing Battle Rages On

PYMNTS

With the fate of TikTok grabbing all the press, you may have missed the news that Facebook is talking about denying itself and its sister social platform Instagram to the European Union (EU) over new proposals that would stop the social media giant from transferring data on EU users back to Facebook headquarters in Silicon Valley.

Taxes 162
article thumbnail

Facebook, Google Pressured In India Over Privacy, Taxes

PYMNTS

Govindacharya have asked lawmakers in India to call leaders of Google and Facebook to the country to ask them about data privacy and their compliance on tax laws, according to a report from Reuters. Some firms, Reuters reported, are taking another look at their policies and making changes to combat misinformation before voting begins.

Taxes 108
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Trending Sources

article thumbnail

Facebook Invests $130M In Content Oversight Board

PYMNTS

The social media company is now reportedly investing $130 million to the effort, Engadget reported. It will have the role of handling such tasks as ensuring tax compliance, administering payroll and reviewing the annual budget of the board. Facebook has been at work creating a content oversight board over the past year.

article thumbnail

US Treasury Secretary Sees Libra As National Security Threat

PYMNTS

ā€œCryptocurrencies such as bitcoin have been exploited to support billions of dollars of illicit activity like cyber crime, tax evasion, extortion, ransomware, illicit drugs and human trafficking,ā€ Mnuchin said, adding that he is ā€œnot comfortable todayā€ with the social media giant’s planned launch.

National 187
article thumbnail

Death, Taxes And Digitizing Insurance PaymentsĀ 

PYMNTS

If death and taxes are sureties, insurance payments rank up there, as people insure homes and autos and apartments against any number of calamitous scenarios. The opportunity for a strong bond lies with payments as a foundation, he said, the moment money changes hands between a policy holder and an insurance carrier.

Taxes 101
article thumbnail

Economic Nexus Lawsā€™ Unexpected Impacts On Restricted Substance Retailers

PYMNTS

eCommerce sales tax laws are having unintended consequences in the tobacco industry. These laws were meant to make online sellers face sales tax requirements similar to those for retailers with on-the-ground locations, putting both types of businesses on equal footing. How economic nexus policies play out with restricted substances .

Retail 109
article thumbnail

Tencent, Other Chinese Tech Firms Called Out For Privacy Violations

PYMNTS

A number of Chinese tech companies were ordered to clean up policies on the way their apps deal with user information or face penalties, according to an Associated Press report on Thursday (Dec. The tech companies cited included social media giant Tencent , Sina Corp., Sohu.com Ltd. and Xiaomi Corp. The apps must comply by Dec.