Regulators and legislators need to wake up and start governing the digital economy

Australia is the latest country to cast an eye towards Silicon Valley, revamping rules to create a regulatory framework with greater oversight and authority over the booming digital ecosystem. While the digital economy has operated in a relatively tether-free fashion to date, various scandals throughout the last 18 months have shown these companies are not … Continue reading Regulators and legislators need to wake up and start governing the digital economy

Overcoming digital divide – analysis (India)

India’s policies towards digital regulation are inadequate. Future policy-making must be based on economic considerations and evidence, not on myopic political considerations In 2014, the Narendra Modi-led Government came to power with an objective of ‘minimum Government, maximum governance, aimed at showcasing the country as an investment-friendly destination. Thereafter, on various occasions, the Government announced measures … Continue reading Overcoming digital divide – analysis (India)

How cybersecurity and data storage laws could pull the plug on Southeast Asia’s digital economy

Jeff Paine says governments in Southeast Asia are keen to capitalise on the opportunity presented by the digital economy, but their rush to regulate data flows and storage will hit start-ups and small local firms hard. Southeast Asia is one of the most diverse regions in the world, a handful of countries with thousands of … Continue reading How cybersecurity and data storage laws could pull the plug on Southeast Asia’s digital economy

Benin is the latest African nation taxing the internet

Benin has joined a growing list of African states imposing levies for using the internet. The government passed a decree in late August taxing its citizens for accessing the internet and social-media apps. The directive, first proposed in July, institutes a fee (link in French) of 5 CFA francs ($0.008) per megabyte consumed through services like Facebook, WhatsApp, and Twitter. … Continue reading Benin is the latest African nation taxing the internet

German politician calls for corporate break-up of U.S. digital tech giants

German Social Democrats (SPD) leader Andrea Nahles has called for the break-up of major U.S. technology companies on Monday to prevent the formation of digital monopolies. Writing in the newspaper Handelsblatt, Nahles urged policymakers to use antitrust regulation to "reign in internet giants" like Facebook, Google and Amazon as soon as their behavior began to … Continue reading German politician calls for corporate break-up of U.S. digital tech giants

Tax Department’s Consultation On Digital Taxation May End Up Being An Academic Exercise, Experts Say

Technology giants like Facebook, Google, Amazon, Alibaba and other such digital companies derive considerable value from a large user base. For instance, some digital companies sell user data for targeted advertising. It’s this value that nations now want to tax. Europe, for instance, has proposed a tax on turnover. Australia is mulling a tax on digital advertising. … Continue reading Tax Department’s Consultation On Digital Taxation May End Up Being An Academic Exercise, Experts Say

Difficult and contentious: taxing the digital economy (Australia)

Accountants have been urged to keep a lookout for significant changes to the tax environment as the government considers options for taxing the digital economy. In Treasurer Scott Morrison’s budget address, he noted how the government’s crackdown on multinationals had brought $7 billion a year in sales revenue and would now be looking towards the … Continue reading Difficult and contentious: taxing the digital economy (Australia)

EU’s Taxation of the Digital Economy—Fair or Protectionist?

The EU Commission has published two proposals on the taxation of the digital economy and digital business models. Will the reform of corporate tax rules and the second measure of an interim tax lead to a fairer taxation of digital activities in the EU? Since the economic crisis of 2008-09, we live in a different … Continue reading EU’s Taxation of the Digital Economy—Fair or Protectionist?

India:Google tax may be broadened to cover non-digital MNCs

MUMBAI: A budgetary proposal to tax multinationals with a substantial user base in India such as Google and Facebook is now being widened to include non-digital companies. This could mean that any company that merely sells goods or services in India could see domestic taxes of up to 42% on their profits, said two people … Continue reading India:Google tax may be broadened to cover non-digital MNCs

European Commission – Fair Taxation of the Digital Economy

On 21 March 2018, the European Commission proposed new rules to ensure that digital business activities are taxed in a fair and growth-friendly way in the EU. What is the Commission proposing? The Commission has made two legislative proposals: The first initiative aims to reform corporate tax rules so that profits are registered and taxed where businesses … Continue reading European Commission – Fair Taxation of the Digital Economy