A Plan for a Recurring Google Tax Takes Shape
December 16, 2020
I spotted what looked like another ho hum the EC wants to penalize Google again story. “Tech Giants Face Fine of Up to 10% of Turnover for EU Rule Breaches -EU Source” contains a couple of nuggets. The first is that not just Google is a target. Now the goal is a company defined as a “technology” firm is fair game. With companies explaining that their operation is based on information, it is possible for the Google Tax to apply to companies different from the Google; for example, a health care company or a logistics outfit.
Second, this passage opens the door to financial and market data disclosures and may institutionalize a permanent penalty tax, maybe a tariff to just operate in the ED:
The rules, known as the Digital Markets Act, set out a list of dos and don’ts for online gatekeepers to ensure a level playing field for rivals and users. This could include requiring dominant companies to share certain kinds of data with rivals and regulators while practices such as companies favoring their own services could be outlawed.
This is likely to give some other nation states ideas for institutionalizing additional fees on “technology” companies. Who will pay these fees? Probably users.
Also, the write up does not identify a source. This is an interesting way to create “real” news when one is a trusted outfit. At least the source lives in the EC, maybe?
Stephen E Arnold, December 16, 2020
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