Only a fool would trust Facebook with his or her financial wellbeing. Maybe that’s the point. Facebook knows how many fools are born every minute, writes Joseph E Stiglitz Only a fool would trust Facebook with his or her financial wellbeing. Maybe that’s the point. Facebook knows how many fools are born every minute, writes.
The start of any European Commission brings with it a sense of hope, a sense of new beginnings and new possibilities and a feeling curiosity in the face of the unknown personalities taking up the lead roles for the 27 countries of Europe.
Hungary has won a court fight with EU regulators over a tax on advertising, in another setback for Competition Commissioner Margrethe Vestager’s crusade against countries she says are taking advantage of state aid-rules to give select companies an unfair advantage over rivals.
The European Commission has put down an early marker as Finance Minister Paschal Donohoe plans his autumn budget, recommending the Government cut back on tax reliefs, introduce more taxes such as carbon and reduce fossil fuel subsidies, and to continue reforms of the country’s corporate tax regime that has led to the exchequer tapping huge windfalls from multinationals.
Finance Minister Paschal Donohoe says he has “no doubt at all” a number of countries will lay claim to parts of the €14bn Ireland collected in back taxes from Apple if the Government were to lose the legal appeal it launched against the EU almost three years ago.
The dark side of internet technology in general and Facebook — which now owns WhatsApp and Instagram — in particular have been among the many problems governments have wrestled with throughout 2018. They remain unresolved as we welcome the new year. Like the hydrogen bomb, the technology cannot be uninvented, yet legislatures around the free world struggle to find ways to curtail its destructive power.
Finance Minister Paschal Donohoe yesterday faced a barrage of criticism over Ireland’s tax regime from a prestigious panel at Davos, amid claims the country was facilitating the “stealing of jobs and tax revenues” from fellow Europeans and the world’s hard-working poor.
The EU is still scrutinising a competition ruling which may lead to it insisting the Government retrieve as much as €25m from potentially hundreds of business people who benefited from the country’s leading tax incentive business scheme which was designed to help SMEs.