Sunday, October 21, 2018
Search
  
Submit your own News for
inclusion in our Site.
Click here...
Breaking News
Google Could Charge Android Partners in Europe up to $40 per Device
Samsung Display Develops Under Panel Sensor, Fingerprint On Display AMOLEDs
The 9th Generation Intel Core i9-9900K is Actually the World's Best Gaming Processor
European Commission Approves Acquisition of GitHub by Microsoft
Samsung, LG Launch Trade-in Promotions to Help Sales Of Latest Flagship Smartphones
Fujitsu's Cooling Control Technology Reduces Datacenter Energy Consumption
Tesla Unveils new $45,000 Model 3
Micron Wants to Buy Remaining Interest in IM Flash Technologies to Advance the 3D XPoint Technology
Active Discussions
Which of these DVD media are the best, most durable?
How to back up a PS2 DL game
Copy a protected DVD?
roxio issues with xp pro
Help make DVDInfoPro better with dvdinfomantis!!!
menu making
Optiarc AD-7260S review
cdrw trouble
 Home > News > General Computing > Korea t...
Last 7 Days News : SU MO TU WE TH FR SA All News

Thursday, August 2, 2018
Korea to Tax Google, Apple, Amazon


The South Korean government will impose taxes on Google, Apple, Amazon and other global IT companies.

Domestic companies have been complaining for years about an unfair treatment of IT heavyweights and them, regarding the corporate income tax they have to pay on the revenue they generate in Korea. Under the current law, the S. Korean government is unable to tax global companies, if these companies have no fixed places of business in the Asian country.

Amazon is one of the global IT firms actively targeting the Korean market as it has recently begun the free shipment of goods purchased by customers there.

Google and Apple are gaining huge profits through the sales of apps, with the former actively expanding its businesses here by, for example, launching its in-car infotainment application Android Auto.

Ahn Jeong-sang, a policy advisor to the ruling Democratic Party of Korea, said it was an urgent task to introduce institutional measures to resolve issues involving global internet firms.

"Under the current law, preliminary or ancillary places of business are not regarded as global companies' offices in Korea, and this has played a role in their tax avoidance," Ahn said.

"Considering the characteristics of the digital economy, the concept of fixed places of business needs to be expanded so that the government can secure authority to impose taxes on them."

He stressed that substantive locations and subjects, to which companies offer their services, should be taken into consideration. For example, when companies' cache servers are in Korea, it should be construed that their places of business are also here, he said.

Korea's Ministry of Economy and Finance said its officials are participating in a taskforce operated by the Organization for Economic Cooperation and Development to discuss taxation policies targeting global IT companies.

However, Google Korea said it complies with Korean laws and regulations.

"Google follows the laws and pays all applicable taxes in Korea," it said. "Information on Google Korea's revenue and profit is regularly reported to the Korean tax authority."


Previous
Next
Broadcom to Design 7-nm AI processor For Wave: report        All News        New Samsung Galaxy Tab S4 Comes With Samsung DeX, Longer-lasting battery and the Refined S Pen
Broadcom to Design 7-nm AI processor For Wave: report     General Computing News      Google is Seeking to Enter China With Censored Version of Search: report

Get RSS feed Easy Print E-Mail this Message

Related News
Google Could Charge Android Partners in Europe up to $40 per Device
Apple Expected to Unveil New iPad and MacBook on October 30
Apple Granted New Patent For a Folding iPhone
Sirius XM Coming to Amazon Echo devices
How Google's Titan M Security Chip Works
Apple Releases Tool to Show You What Data it Has Collected
iPhone XR Available for pre-order on Friday
Google Makes to Charge Smartphone Makers in Europe For Google Play Apps
New Kindle Paperwhite is Thinner, Lighter, and Waterproof
Online Political Ads Transparency Project Tackles Archives Built by Social Media Companies
TSMC Said to be the Sole Maker of the 7nm Apple A13 Chips
Apple to Buy Dialog's Assets and Staff for $600 million

Most Popular News
 
Home | News | All News | Reviews | Articles | Guides | Download | Expert Area | Forum | Site Info
Site best viewed at 1024x768+ - CDRINFO.COM 1998-2018 - All rights reserved -
Privacy policy - Contact Us .