Search results for: tax
How France is using AI to find thousands of untaxed pools
France is witnessing its worst drought in history as the country’s tax authorities are now using AI (Artificial Intelligence) to find thousands of undeclared swimming pools. The country’s Federal authorities used software designed by Google and Capgemini, a consulting firm, to discover 20,356 former undisclosed pools since October 2021. AI software was used to analyze […]
Candela debuts the world’s first flying electric taxi boat, the P-8 Voyager, in Venice Italy.
Candela is a Stockholm-based start-up company launched in 2014. It’s the leading creator of electric-powered hydrofoil flying boats. The company produces passenger boats that consume less energy, glide above the water surface, and don’t pollute the water. In 2020, Candela launched the first flying electric hydrofoil passenger boat, the Candela Seven. This boat made its […]
Despite threats of US retaliation, the UK will tax tech giants, with support from Europe’s digital policy chief
The UK will move forward with its plan to tax multinational digital firms, despite retaliatory threats from US officials, chancellor Sajid Javid said at the World Economic Forum in Davos earlier this week, according to The Guardian. “We plan to go ahead with our digital services tax in April,” he said. “It is a proportionate tax, and […]
Google will abandon Dutch and Irish tax loopholes, as rules shift on both sides of the Atlantic
Google says it will no longer use the controversial “Double Irish, Dutch sandwich” tax scheme, a set of loopholes that have allowed it to pay a single-digit tax rate on profits made outside the US, according to Reuters. In the widely used tax strategy, companies first transfer funds from an Irish subsidiary to a Dutch holding company, […]
German startup Lilium reportedly seeks over €450m in funding for air taxis
The German “flying car” startup Lilium is talking to investors in an effort to raise up to $500 million (€453 million) in a new funding round, sources told TechCrunch. Fundraising on that scale would mark the most capital yet raised by an air taxi startup, and could move the prospect closer to becoming a reality. Lilium […]
UK-based firm will unveil world’s first flying taxi hub in Singapore
The Essex-based company Skyports will unveil the world’s first hub for flying taxis, for industry executives at the Intelligent Transport Systems World Congress later this month in Singapore, according to Bloomberg. They’ll demonstrate their new “vertiport” with a test flight of an electric aircraft from the German company Volocopter, which has said Singapore is a likely […]
Google will pay France €1 billion to end years-long tax probe
Google will pay nearly €1 billion to French authorities to settle an ongoing investigation into its tax practices, according to The Verge. The payment includes a €500 million fine and tax payments of €465 million, still totaling less than the €1.6 billion Google was accused of failing to pay. Since 2016, authorities had been investigating whether […]
Despite billions in sales, Amazon Europe received €241m in tax credits last year
Amazon Europe was granted €241m in tax credits last year, despite reporting nearly €30bn in sales, and even as authorities move to collect more taxes from tech giants. The credits could be deducted from taxes owed on future earnings, according to The Guardian. In recent years, tech companies in Europe, many of which are based in the […]
Trump promises to retaliate against France’s tech tax
US President Donald Trump has responded to France’s move to tax US tech giants, saying he will shortly announce “substantial reciprocal action,” according to The Verge. “France just put a digital tax on our great American technology companies. If anybody taxes them, it should be their home Country, the USA. We will announce a substantial reciprocal […]
France approves new tax on multinational tech giants
French lawmakers have voted to approve a new tax on digital services, aimed primarily at large international tech giants based in the US, according to BBC News. A 3 percent tax on sales by large multinational tech companies was passed by the French senate Thursday, after it was approved by the lower house a week earlier. […]