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Big Tech Compliance Tracker: Tencent Says Big Tech Needs Greater Oversight; Group Seeks To Block Maryland Online Ad Tax

PYMNTS

Group Seeks to Block Maryland Online Advertising Tax. Marylanders for Tax Fairness is preparing for a battle in January over the state’s attempt to make a digital advertising tax, the Baltimore Sun reported. Maryland legislators ratified the tax earlier in 2020, but Gov. Larry Hogan vetoed the levy. percent to 10 percent.

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IRS Cracking Down On Crypto-Holding Taxpayers

PYMNTS

The Internal Revenue Service (IRS) is going to send letters to about 10,000 cryptocurrency holders warning them about the penalties they will face if they don’t report their income or pay taxes on the transactions, according to a report by The Wall Street Journal. at the World Bank.

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Bitcoin Daily: Brazil Debuts Blockchain Solution For Gov’t Bids; BitFunder CEO Gets 14 Months For Crypto Fraud

PYMNTS

The news is reportedly according to a slide deck from a cyber training session that discussed many ways that criminal investors might come across potential digital currency tax cheats. The slide deck was reportedly leaked through social media by an accountant. at the World Bank.

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EU Shakes Up Digital Policy To Get Competitive In Tech

PYMNTS

Having lagged behind on technologies like smartphones, social media and eCommerce, the European Union wants to catch up and keep EU firms from having to rely on data from U.S. The proposals coincide with efforts by some EU countries to levy digital taxes on large American technology companies. and Asian competitors.

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Big Tech Compliance Tracker: Google Faces Questions Over Digital Ads; Australian Watchdog Says Facebook’s Proposed Ban On News Sharing Would Be Its Loss

PYMNTS

EU Undecided Whether To Appeal Ruling Upholding Apple’s Irish Tax Breaks . EU Will Implement Digital Tax Next Year Unless Global Rules Pass . The European Union will propose a digital tax in early 2021 if governments don’t reach a worldwide consensus on such taxes for the online era, EU President Ursula von der Leyen said recently. “We

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Economic Nexus Laws’ Unexpected Impacts On Restricted Substance Retailers

PYMNTS

eCommerce sales tax laws are having unintended consequences in the tobacco industry. These laws were meant to make online sellers face sales tax requirements similar to those for retailers with on-the-ground locations, putting both types of businesses on equal footing. in 2017 had a 52.75

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The ICBA 22/23 executive committee is all in

Independent Banker

ICBA president and CEO Rebeca Romero Rainey, Washington, D.C. We must also keep our focus on protecting the 2017 tax cuts and, as always, monitoring and confronting credit union overreach. For instance, ICBA is calling for congressional hearings on the credit union tax exemption. Coldwater, Ohio. Grand Rapids, Minn.;