Will Big Tech face bigger tax bills on an international stage?
Beyond the debates on data privacy and compliance, marquee names in technology face greater scrutiny from various governments, and perhaps bigger tax bills, too.
In India, the Central Board of Direct Taxes, is looking at ways to bring new taxes to bear on companies such as Google, Amazon, and Facebook, among others, according to timesnownews.com. The site reported that tax policymakers will hold meetings in September at the Organisation for Economic Co-operation and Development. At least one unnamed official has been quoted as stating that “all countries are trying to find a consensus on major tech companies.”
In other news regarding tax policy, in Egypt, the government, as reported by menabytes.com, is “close” to issuing new income tax regulations, in draft form, that would tax advertisements posted online across platforms and social media sites.
As reported, the tax imposed could be as much as 20% on social media and search ads. The tax would reportedly be levied on the total cost of the ads.
In Kenya, the country’s revenue authority has stated it will seek to introduce a digital tax on products and services that are delivered across digital platforms, through a Value Added Tax. The new digital tax may also apply to what are known as Over the Top (OTT) Services and streaming services, as reported by gadgets-africa.com.
Investigations
Of course, beyond taxes, tech firms are under r
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