Globes: Israel Tax Authority takes on Google, Facebook

Globes: Israel Tax Authority takes on Google, Facebook. “A long way behind the public debate in Israel and globally on the impact of Internet giants Google, Facebook and others on the economy and society, the Knesset Economic Affairs Committee got around to holding a session on the matter today. Committee chair Eitan Cabel, who initiated the session, chose not to hold separate sessions on the economic and the social issues, and the result was much hot air and very little new information.”

Financial Post: Google’s ‘Dutch Sandwich’ manoeuvre shielded $19.2 billion from taxes in 2016

Financial Post: Google’s ‘Dutch Sandwich’ manoeuvre shielded $19.2 billion from taxes in 2016. “Alphabet Inc.’s Google moved 15.9 billion euros (US$19.2 billion) to a Bermuda shell company in 2016, saving at least US$3.7 billion in taxes that year, regulatory filings in the Netherlands show. Google uses two structures, known as a ‘Double Irish’ and a ‘Dutch Sandwich,’ to shield the majority of its international profits from taxation. The setup involves shifting revenue from one Irish subsidiary to a Dutch company with no employees, and then on to a Bermuda mailbox owned by another Ireland-registered company.”

Bangalore Mirror: Google’s Tax Case To Be Decided By January 31

Bangalore Mirror: Google’s Tax Case To Be Decided By January 31. “The High Court has directed the Income Tax Tribunal to complete hearing the appeal of Google India Limited by January 31, 2018. The case pertains to a tax demand of Rs 126 crore on the company. Google had deposited Rs 70 crore (over 60 per cent of the demand) for the appeal to get going.”

Haaretz: Israel Plans to Issue Google and Facebook Precedent-setting Tax Bills Within a Year

Haaretz: Israel Plans to Issue Google and Facebook Precedent-setting Tax Bills Within a Year. “Israel is planning to hand multinational internet corporations Google and Facebook a tax bill within a year, said Tax Authority chairman Moshe Asher. If Israel does manage to collect taxes from the internet giants, that would put it among a select group of countries that have started demanding taxes from these corporations, which until now have paid very little.”

New York Times: It’s Time to Tax Companies for Using Our Personal Data

New York Times: It’s Time to Tax Companies for Using Our Personal Data. “The value of our personal data is primarily locked up in the revenues of large corporations. Some, like data brokerages, exist solely to buy and sell sets of that data. Why should companies be the major, and often the only, beneficiaries of this largess? They shouldn’t. Those financial benefits need to be shared, and the best way to do it is to impose a small tax on this revenue and use the proceeds to build a better, more equitable internet and society that benefit us all.”

Lohud: Which films got tax breaks? Check the first national database

Lohud: Which films got tax breaks? Check the first national database . “How much in public tax breaks has gone to films and television shows across the nation? The USA Today Network in New York spent months canvassing all 34 states that have film-incentive programs, finding that they allocate $1.3 billion breaks to productions. Of the states with programs — and about 10 have dropped them in recent years because of concerns about their economic value — 29 states responded to our requests for how much each film and show received over the past five years.”

Economic Times: Google loses 6 year battle, must pay tax on remittances made to Google Ireland

Economic Times: Google loses 6 year battle, must pay tax on remittances made to Google Ireland . “Bad news for the world’s favourite search engine. On Tuesday, the Indian tax office gained an upper hand in its six-year-long battle with Google India in a ruling that would set a precedence for some of the other multinational companies. The rift owes its origin to the arrangement and fund flow between Google India and the global giant’s office in Ireland — a jurisdiction known for its lax tax rules.”