4 ms·

In theory yes, but so far they haven't brought the hammer onto anyone of formidable size.

kreeben 4y ago
[flagged]
mhitza 4y ago
Amazon Europe Core S.à.r.l. Industry and Commerce LUXEMBOURG 746,000,000 euro Non-compliance with general data processing principles 16 Jul 2021 WhatsApp Ireland Ltd. Media, Telecoms and Broadcasting IRELAND 225,000,000 euro Insufficient fulfilment of information obligations 02 Sep 2021 https://www.enforcementtracker.com/?insights https://www.enforcementtracker.com/?insights
- retSava 4y ago
  In 2021, Amazon EU S.à r.l. had a revenue of over 51 billion euros Can't find numbers on profit, but companies such as amz are experts on creativity, as indicated by eg this quote: Amazon paid zero corporation tax in Luxembourg last year, despite seeing a record sales income of €44 billion. As first reported by The Guardian, accounts for Amazon EU Sarl published online showed that despite making billions of dollars in sales, the company's Luxembourg unit, which oversees retail in countries across Europe, made a €1.2 billion loss and therefore paid zero tax. Not only did the company not have to pay corporate tax, but it was also handed €56 million in tax credits to offset future tax bills in the event that it does turn a profit. That also comes on top of €2.7 billion in losses that have been carried forward and can be used to offset future tax bills. Ie, not a sledge hammer.
- Nextgrid 4y ago
  This link gets posted all the time but if you compare the total amount fined across all companies and all countries it's laughable compared to the profits a single big offender (see Google, Facebook, etc) makes in just a year.
- betaby 4y ago
  Are those fines given or fines collected? I remember reading that fines collected are really tiny portion of those given.
  - mhitza 4y ago
    Fines given. Wasn't even aware there were mechanics for third-parties to track fines collected (aside from say yearly reported aggregates).

[flagged]

Amazon Europe Core S.à.r.l. Industry and Commerce LUXEMBOURG 746,000,000 euro Non-compliance with general data processing principles 16 Jul 2021 WhatsApp Ireland Ltd. Media, Telecoms and Broadcasting IRELAND 225,000,000 euro Insufficient fulfilment of information obligations 02 Sep 2021 https://www.enforcementtracker.com/?insights https://www.enforcementtracker.com/?insights

retSava 4y ago
In 2021, Amazon EU S.à r.l. had a revenue of over 51 billion euros Can't find numbers on profit, but companies such as amz are experts on creativity, as indicated by eg this quote: Amazon paid zero corporation tax in Luxembourg last year, despite seeing a record sales income of €44 billion. As first reported by The Guardian, accounts for Amazon EU Sarl published online showed that despite making billions of dollars in sales, the company's Luxembourg unit, which oversees retail in countries across Europe, made a €1.2 billion loss and therefore paid zero tax. Not only did the company not have to pay corporate tax, but it was also handed €56 million in tax credits to offset future tax bills in the event that it does turn a profit. That also comes on top of €2.7 billion in losses that have been carried forward and can be used to offset future tax bills. Ie, not a sledge hammer.
Nextgrid 4y ago
This link gets posted all the time but if you compare the total amount fined across all companies and all countries it's laughable compared to the profits a single big offender (see Google, Facebook, etc) makes in just a year.
betaby 4y ago
Are those fines given or fines collected? I remember reading that fines collected are really tiny portion of those given.
- mhitza 4y ago
  Fines given. Wasn't even aware there were mechanics for third-parties to track fines collected (aside from say yearly reported aggregates).