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Big Tech Compliance Tracker: US Trade Rep Says Digital Taxes Discriminate Against US Firms; Facebook Removes ‘Likes’ From ‘Pages’

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US Trade Representative: India, Italy, Turkey Digital Taxes Discriminates Against US Firms. Trade Representative (USTR) recently released the results of Section 301 probes of digital services taxes (DSTs) that Turkey, Italy and India have adopted, finding that each tax “discriminates against U.S.

Taxes 132
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US Treasury: Taxes On Digital Companies Are Discriminatory

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Treasury official said a French tax plan targeting American digital companies is discriminatory against American businesses. Treasury’s top international tax official, called the taxes “ill-conceived,” and said the better option was to go after tax reform internationally at the Organisation for Economic Co-operation and Development ( OECD ).

Taxes 132
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Libra Could Pose Tax Challenges In Europe

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With the idea of pegging Libra’s value to a basket of international currencies, Facebook ’s proposed cryptocurrency would bring tax challenges to European users, per tax lawyers. This seems to us to be a significant barrier to wide adoption.”. As a result, capital gains and losses would be created.

Taxes 115
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Big Tech Compliance Tracker: Tencent Says Big Tech Needs Greater Oversight; Group Seeks To Block Maryland Online Ad Tax

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Regulation. Tencent Holdings President Martin Lau said further regulations are needed in China to mirror a “new reality.”. As technology companies become bigger and more important to the economy, I would say more regulations to reflect the new reality are needed," Lau said, according to the report. Larry Hogan vetoed the levy.

Maryland 151
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Big Tech Compliance Tracker: Apple, Google, Amazon Boost UK Fees To Cover New Digital Tax; Amazon Gets FAA’s OK For Drone Delivery 

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Here’s the latest news for Big Tech’s Google , Amazon , Apple and Facebook , which are coming under increasing scrutiny from legislators and regulators the world over. Regulation. Big Tech Updates Fees to Reflect UK Digital Services Tax. digital services tax on to consumers in addition to an existing 20 percent value-added tax.

Taxes 131
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US Treasury Secretary Sees Libra As National Security Threat

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“Cryptocurrencies 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,” Mnuchin said, adding that he is “not comfortable today” with the social media giant’s planned launch.

National 187
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Big Tech Compliance Tracker: Facebook Backs Data Portability Law, Amazon Considers Registering Services As Separate Entities In India

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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. The social media company has indicated that the Access Act, a proposed data portability law, is a first move in the right direction.