Digital services taxes adopted by India, Italy, and Turkey in recent years discriminate against U.S. companies, the U.S. Trade Representative said on Wednesday. From a report: USTR, which began investigations into the three nation’s digital services taxes in June last year, said it found them to be inconsistent with international tax principles, unreasonable, and burdening or restricting U.S. commerce. In its…
Tag: tax
How chaos and tendency to reach thermal equilibrium arise from fundamental laws of physics
Normally the word “chaos” evokes a lack of order: a hectic day, a teenager’s bedroom, tax season. And the physical understanding of chaos is not far off. It’s something that is extremely difficult to predict, like the weather. Chaos allows a small blip (the flutter of a butterfly wing) to grow into a big consequence (a typhoon halfway across the world),…
Norway Becomes First Country To Sell More Electric Cars Than Petrol Vehicles
Norway has become the first country to have sold more electric cars than petrol, hybrid, and diesel engines in a year. The Independent reports: Electric cars comprised 54% of all new vehicle sales in Norway for 2019. The Norwegian government plans to ban the sale of petrol and diesel cars by 2025, and is using tax breaks and financial incentives to…
‘Companies Are Fleeing California. Blame Bad Government.’
Bloomberg Editorial Board: Amid raging wildfires, rolling blackouts and a worsening coronavirus outbreak, it has not been a great year for California. Unfortunately, the state is also reeling from a manmade disaster: an exodus of thriving companies to other states. In just the past few months, Hewlett Packard Enterprise said it was leaving for Houston. Oracle said it would decamp for…
Global Digital-Tax Detente Ends, as US and France Exchange Blows
Detente is ending in the global fight over tech taxes. Earlier this year, France agreed to suspend collection of a tax on digital revenue from large technology companies such as Facebook, Amazon and Alphabet’s Google. Meanwhile, the U.S. delayed the application of tariffs it was putting on French goods in retaliation for the tax. But now France has resumed collecting what…
The COVID-19 Stimulus Bill Would Make Illegal Streaming a Felony
An anonymous reader quotes a report from The Hollywood Reporter: Providing relief via direct assistance and loans to struggling individuals and businesses hit hard by COVID-19 has been a priority for federal lawmakers this past month. But a gigantic spending bill has also become the opportunity to smuggle in some other line items including those of special interest to the entertainment…
High-Frequency Traders Push Closer To Light Speed With Cutting-Edge Cables
High-frequency traders are using an experimental type of cable to speed up their systems by billionths of a second, the latest move in a technological arms race to execute stock trades as quickly as possible. From a report: The cable, called hollow-core fiber, is a next-generation version of the fiber-optic cable used to deliver broadband internet to homes and businesses. Made…
Exxon Holds Back on Technology That Could Slow Climate Change
Carbon capture can make money for oil giants, and scientists say we need it. Is the industry willing to invest enough? From a report: Elk and pronghorn antelope migrate each fall through southern Wyoming, where the sparsely vegetated landscape slowly gives way to the foothills of the Rocky Mountains. Interrupting this serene vista is a dense web of steel pipes, tanks,…
From Thailand To Indonesia, Taxes Tighten for Digital Businesses
Governments across the Association of Southeast Asian Nations are moving to impose more taxes on digital companies, stirring unease among multinational internet businesses that have boomed amid the coronavirus pandemic. From a report: From Thailand to Indonesia, new levies have kicked in or are being introduced. They threaten to chip away at the earnings of technology companies that are reaping benefits…
Are Tech Workers Fleeing the San Francisco Bay Area?
NBC News reports:
Many urban centers have seen residents move out in large numbers since the start of stay-at-home orders in March, but the shift has been especially dramatic for San Francisco, a city that was already experiencing rapid change because of the tech industry. Software engineers, CEOs and venture capitalists have chosen to jump from the Bay Area to places such…