Tech firms are making record profits but paying little tax. Now global leaders are discussing ways to make them pay their fair share Source: https://www.newscientist.com/article/2235492-politicians-are-mulling-a-global-tax-rate-to-tame-the-tech-giants/?utm_campaign=RSS%7CNSNS&utm_source=NSNS&utm_medium=RSS&utm_content=home…
Tag: tax
New California Bill Proposes $1,000-a-Month Universal Basic Income
1 out of 8 Americans live in California. Now a proposed California law “would provide most adults in the state with a universal basic income of $1,000 per month, similar to the proposed plan of former presidential candidate Andrew Yang,” reports Newsweek: The California Universal Basic Income (UBI) Program was Funding the program with a value-added tax has been blasted by…
JP Morgan Economists Warn of ‘Catastrophic’ Climate Change
An anonymous reader quotes a report from the BBC: Human life “as we know it” could be threatened by climate change, economists at JP Morgan have warned. In a hard-hitting report to clients, the economists said that without action being taken there could be “catastrophic outcomes.” The bank said the research came from a team that was “wholly independent from the…
IRS Sues Facebook For $9 Billion, Says Company Offshored Profits To Ireland
An anonymous reader quotes a report from Fox Business: Facebook is slated to begin a tax trial in a San Francisco court on Tuesday, as the Internal Revenue Service tries to convince a judge the world’s largest social media company owes more than $9 billion linked to its decision to shift profits to Ireland. The trial, which Facebook expects will take…
Software Error Exposes the ID Numbers For 1.26 Million Danish Citizens
A software error in Denmark’s government tax portal has accidentally exposed the personal identification (CPR) numbers for 1.26 million Danish citizens, a fifth of the country’s total population. From a report: The error lasted for five years (between February 2, 2015, and January 24, 2020) before it was discovered, Danish media reported last week. The software error and the subsequent leak…
Facebook To IRS: Refund Me, I’m Irish!
Long-time Slashdot reader theodp writes: Among the techniques featured in a 2012 City Pages story on The 10 Most Corrupt Tax Loopholes was pretending to be Irish. Chris Parker wrote, “Most people associate such exhaustive money-laundering with drug cartels. But it’s now standard practice at firms like Eli Lilly, Google, Microsoft, Pfizer, and Facebook. The only difference is that when drug…
Luxembourg Wants to Solve Congestion With Free Public Transport
Starting in March 2020, public transport in Luxembourg will be free of charge. Primarily a social measure, this policy will also be implemented to decrease congestion in the capital region. From a report: Luxembourg’s public transportation system is already heavily subsidized as fares in the country are as low as $2.2 per two hours. Even so, the country has the highest…
Welfare Surveillance System Violates Human Rights, Dutch Court Rules
An anonymous reader quotes a report from The Guardian: A Dutch court has ordered the immediate halt of an automated surveillance system for detecting welfare fraud because it violates human rights, in a judgment likely to resonate well beyond the Netherlands. The case was seen as an important legal challenge to the controversial but growing use by governments around the world…
Coursera Appoints Sabrina Simmons to Board of Directors
Coursera’s mission is to transform lives through learning. In addition to equipping 47 million learners with skills of the future, we are advancing our mission by partnering with institutions and communities around the world as they tackle challenges posed by digital disruption. Today, we are excited to announce the expansion of our Board as they […]
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Apple CEO Calls For Global Corporate Tax System Overhaul
Everyone knows that the global corporate tax system needs to be overhauled, Apple Chief Executive Tim Cook said on Monday, backing changes to global rules that are currently under consideration. From a report: The growth of internet giants such as Apple has pushed international tax rules to the limit, prompting the Organization for Economic Cooperation and Development (OECD) to pursue global…