PYMNTS

SEPTEMBER 30, 2019

Scrutiny of tech firms is spreading across the globe, hinting at broader regulations over privacy and, possibly, bigger tax bills. In one example, Indonesia is “already preparing legislation” that would require tech companies with online services to pay value-added tax on local sales, the report noted. Libra, Too. On Privacy.

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PYMNTS

DECEMBER 27, 2019

Retailers that want to sell merchandise nationwide must pay attention to how each state’s tax code treats their goods. For example, products considered to be exempt medical necessities in some states might be taxed at high rates in others. 100: Minimum number of local tax codes in Alaska.

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PYMNTS

DECEMBER 23, 2019

Indonesia has announced it’s going to reduce the threshold for taxing imported eCommerce consumer goods from $75 to $3, to help control the purchases of cheap foreign goods and help protect smaller Indonesian firms, according to a report by Reuters. Most of the shipments are from China, according to data from customs. . percent to 37.5

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PYMNTS

SEPTEMBER 4, 2019

Since 1992, when eCommerce was still in its infancy, online retailers have not had to collect sales tax. States can now tax sales by companies that do not have a physical presence within the state. Will this increasingly regulated online sales tax environment affect this growth? Online Sales Tax and Marketplaces.

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PYMNTS

NOVEMBER 10, 2020

Formal antitrust charges against Amazon will be announced by EU competition commissioner Margrethe Vestager over how the eCommerce giant handles data from the merchants on its platform, according to a Financial Times (FT) report citing sources. Apple faced €13 billion in back taxes to Ireland. In the U.S. Both companies have appealed.

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PYMNTS

MARCH 6, 2019

The European Union has announced that it will not move forward with a digital tax plan covering the entire EU, but also said it would look at reforming tax laws for internet companies, according to a report from Reuters. The global tax reform is being prepared by the Organisation for Economic Co-operation and Development (OECD).

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PYMNTS

JANUARY 29, 2020

businesses are likely already feeling tax season’s pressures. Filing is exhausting and complicated for individuals, and businesses experience those tax difficulties to a far greater degree. SMBs need to remain compliant with increasingly complex financial regulations. SMBs And Manual Tax Frustrations.

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PYMNTS

AUGUST 9, 2020

A plan by India to regulate what it terms “non-personal” data has roiled the executives of Big Tech companies like Amazon , Facebook and Google and advocates for freedom and competition in business, Reuters reported. The idea is for the companies to share data so as to spur research, national security and policymaking.

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PYMNTS

SEPTEMBER 28, 2020

Corporate buyers must gather data to ensure that potential suppliers can meet their procurement needs, but their research does not stop there. They also need to collect and verify vendors’ details to comply with anti-crime regulations, adhere to tax reporting requirements and deliver convenient digital payments to these suppliers.

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PYMNTS

FEBRUARY 24, 2020

In Europe, the continued evolution of data policies and regulation now point toward a single market across the Continent. As reported mid week, the European Commission is planning a single European market for data , in hopes that by pooling talent, the region can compete with Big Tech in Silicon Valley and China.

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PYMNTS

DECEMBER 7, 2020

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. Regulators also called out the tech company’s warranty terms for not covering water damage. Canada Looks to Tax International Tech Firms.

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PYMNTS

MAY 7, 2018

China introduced new tax initiatives aimed at bolstering the nation’s entrepreneurs, according to local news reports on Friday (May 4). Vice finance minister Cheng Lihua introduced seven new tax policies during a press conference Friday, with the goal of saving small businesses $9.45 Xinhua cited “official data” in its report.

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PYMNTS

SEPTEMBER 3, 2019

eCommerce firms are navigating a tax collection environment that increasingly requires technology and automation to ensure compliance. All this, Today in Data. Data: 8,000: Square footage of The North Face’s recently opened store in Soho. 2018: The year of the Supreme Court decision in the South Dakota vs. Wayfair case.

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PYMNTS

MARCH 19, 2018

Tax season, indeed. The regulatory landscape was dotted with news out of Europe centered on the way that tech firms do business — and how they’re taxed. As for taxes , tech behemoths under scrutiny across a separate proposal might face taxation on digital activities of as much as 3 percent of turnover.

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PYMNTS

OCTOBER 5, 2020

Regulation. EU Aims To Have Big Tech Share Data With Smaller Competitors. Firms such as Google and Amazon “shall not use data collected on the platform?.?.?.?for Data Activist: Big Tech Not Following Transatlantic Data Transfer Regulations. antitrust regulation. 25 statement. 25 statement.

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PYMNTS

JANUARY 22, 2018

The financial publication Barron’s reported that regulations — new ones, rumored to be in the offing — were the impetus that sent the price skidding. As for the rumors (confirmed through a government announcement), in South Korea, several exchanges might be on the hook to pay taxes of as much as 24 percent on earnings from 2017.

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PYMNTS

DECEMBER 17, 2018

17) that he wants France to start taxing big tech giants beginning Jan. The idea comes after years of negotiations at the European level, where France and other larger European countries have tried and so far failed to convince smaller countries that tech companies have been taking advantage of the region’s tax structure.

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PYMNTS

FEBRUARY 16, 2020

Facebook is something in between a newspaper and a telecommunications company, said CEO Mark Zuckerberg , and he wants it to be regulated accordingly, The Wall Street Journal reported. He has recently signaled that he would support Facebook paying higher taxes in Europe.

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PYMNTS

NOVEMBER 4, 2019

have resulted in a delay for legislation that is now in draft form, which would include a provision to tax larger tech firms that derive sales from the region. The bill has proposed a 2 percent tax on revenues for firms as diverse as Facebook and Amazon. Closer to home, and focused on data privacy, U.S. I n The States.

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PYMNTS

MAY 19, 2020

BlockFi suffered a “temporary data breach” on May 14 that exposed some customer information, the company reported in an incident report. In other news, the government of Iran is aiming to limit digital currency exchanges with so-called “currency smuggling” regulations, CoinDesk reported.

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PYMNTS

JANUARY 25, 2021

The data leaked included names, email addresses, phone numbers, bank account details and tax ID numbers, the report stated. They could become a “safe-haven asset” and used for asset diversification in investor portfolios if they can overcome volatility, regulation, trust and reputation challenges, according to the report.

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PYMNTS

AUGUST 24, 2020

Here’s the latest news from Facebook, Amazon and others, which are coming under increasing scrutiny from regulators, trade groups and politicians the world over. Regulations. Facebook Supports Data-Portability Law. Data portability has turned into an important portion of the antitrust discussion domestically and in Europe.

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PYMNTS

AUGUST 29, 2019

New data from Coinbase has found that 56 percent of the world’s top 50 universities now offer at least one course on crypto or blockchain — up from 42 percent last year. In other news, Portugal’s Tax Authority has announced that both cryptocurrency trading and payments in crypto will not be taxed in the country.

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PYMNTS

JANUARY 2, 2020

The largest accounting firms – EY, Deloitte, KPMG and PwC – are investing billions of dollars in artificial intelligence (AI) and data technology products to change the industry in new ways, according to a report by Bloomberg Tax. That means accountants will be expected to become business advisers, not just number checkers.

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PYMNTS

JANUARY 22, 2020

India is on the verge of passing a data protection law in 2020 that, in some respects, mirrors – and may help inform – other initiatives around the globe. And those same individuals can request that their data is erased. This means data cannot be retrieved, shared or even transferred by the aggregator without that consent.

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PYMNTS

JANUARY 26, 2018

And lest you think changes in tax policy sow confusion only in the United States, think again. Bitcoin breeched a key psychological barrier on news that the South Korean government would tax income earned by virtual currency exchanges to the tune of 24.2 This past week saw a wild ride. Crossing borders and crossing the Rubicon.

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PYMNTS

AUGUST 13, 2019

Included in the exposed data are bank account numbers, statements, tax and mortgage records, receipts for wire transfers, personal social security numbers and pictures of drivers’ licenses. The regulatory agency asked him to provide anything he had that was tied to the data exposure. KrebsOnSecurity reported the breach in May.

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PYMNTS

SEPTEMBER 12, 2019

Facebook’s Libra project has renewed focus on how cryptocurrencies are regulated, with current rules on the sector patchy and varying from country to country. Regulators are increasingly taking note, with some seeking to improve AML and anti-tax evasion efforts by prohibiting anonymous crypto transactions.

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PYMNTS

AUGUST 13, 2019

Included in the exposed data are bank account numbers, statements, tax and mortgage records, receipts for wire transfers, personal social security numbers and pictures of drivers’ licenses. The regulatory agency asked him to provide anything he had that was tied to the data exposure. KrebsOnSecurity reported the breach in May.

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PYMNTS

OCTOBER 22, 2018

Fraudsters have found a new favored method for the holidays, the Sears’ bankruptcy filing finally came in and the major card networks found themselves on the wrong side of India’s emerging data privacy efforts. payments players are facing the cold shoulder from India’s government as they face fines for violating India’s data privacy laws.

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PYMNTS

MARCH 12, 2019

While policymakers target protection and customer ownership of data, one of the most prominent selling points for open banking is the ability for data to move seamlessly between once-siloed platforms. According to Reed Smith and Mergermarket data published last November, 94 percent of banks and financial institutions in the U.S.

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PYMNTS

NOVEMBER 26, 2020

Under the DSA, companies will have to explain how their algorithms work, open up advertising archives for regulators and researchers, as well as do more to fight hate speech, damaging content and fake products on their platforms. The big tech companies have been facing tougher regulations and more scrutiny around the world as of late.

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PYMNTS

FEBRUARY 12, 2019

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. Indian activists with the New Delhi-based Centre For Accountability And Systemic Change (CASC) and right-wing activist K.N.

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PYMNTS

MAY 3, 2018

Tax reform played a key role for several corporate successes in the first quarter of 2018. “The optimism generated from corporate tax reform seems to have done little to persuade organizations to spend their cash during the early months of 2018,” Kaitz said in a statement. According to Statista data, the U.S.

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PYMNTS

JANUARY 3, 2017

That figure draws on data from AllTheRooms, an accommodation search engine, and analysis by the Financial Times. That news follows separate data recently released by the FT that indicates around 1/3 of the savings Airbnb offers over traditional hotels stems from tax advantages deriving from its business model.

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PYMNTS

NOVEMBER 13, 2018

APIs offer third-party FinTech firms new opportunities to make use of valuable data stored within traditional bank accounts. In some instances, these systems deploy this data to create a solution that banks haven’t developed themselves, often due to restricted investments in small business product development.

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South State Correspondent

JUNE 7, 2023

Bank ERC Background Bank ERCs is a refundable tax credit available to businesses, including financial institutions, affected by the global pandemic as granted under the CARES Act and modified by the Relief Act. Unable to hold in-person meetings—with customers, partners, regulators, industry representatives, and more.

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