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> "4% of their revenue" sounds like a "cost of doing business" fee. Really? Are you sure you're not confusing it with profits? Isn't 10% of revenue considere
by gspr 6y ago
> "4% of their revenue" sounds like a "cost of doing business" fee.
Really? Are you sure you're not confusing it with profits?
Isn't 10% of revenue considered a decent profit margin? If a fine eats up half of that, it sounds pretty major (and reasonable) to me!
- scaryclam 6y ago"These types of infringements could result in a fine of up to €20 million, or 4% of the firm’s worldwide annual revenue from the preceding financial year, whichever amount is higher." - https://gdpr.eu/fines/ https://gdpr.eu/fines/ Definitely revenue. The point of the GDPR is to have some teeth when dealing with companies that are large enough to shrug off lesser fines.
- gspr 6y agoI know. I was replying to a comment that suggested it was toothless, so I wondered if the author had mixed revenue and profit.