If the punishment for a crime is a fine, then it's only a crime for poor people and small businesses.
We need to see prison sentences for anyone involved in making the decisions to commit crimes and the platform needs to face banishment.
If the punishment for a crime is a fine, then it's only a crime for poor people and small businesses.
We need to see prison sentences for anyone involved in making the decisions to commit crimes and the platform needs to face banishment.
Like speeding tickets.
As a rich person you are fine to endanger the rest of the people on the road for a small fee. As a company it is fine to violate laws and rights of people for a small fee.
It's cool as long as the government gets their cut!
Income based fines need to become the standard everywhere. Like here in Finland a businessman got fined 121000€ for going 30km/h over the speed limit.
They can't just pay a fine, they gotta act properly, or being shut down
Yeah, they should have learned from all those other corporate criminals that never experienced actual consequences
How the fuck do they have a loss of 1.3 billion on a video app?
Because it's only loss.
If you throw a bunch of investments or R&D costs into this year, you can all of a sudden have a huge financial loss while having positive cashflow.
Same is true for buying other companies, depreciation and other fuckery with stuff like "goodwill".. or you just paid off a massive loan to an actual creditor, bought back stocks, or moved cash to your offshore holding to dodge taxes (in the form of renting your own IP from your own company in said tax haven)... The list is nearly endless.
The point is, in most countries a loss can be spread out over multiple years to offset profits. Meaning you don't have to pay taxes on the profits.
Data collection, data sales, advertisements.
I wish I could just "set aside" a billion dollars.
Well, EU.. it's time to get to work.
Time to just fine them for the full amount on the first fine. Then afterwards you can go after the rest of their value and assets.
Fine please, thank you. Move along. Fine please, thank you. Move along…
When are we finally moving to a percentage based fines?
It's literally in the last paragraph of the summary. You didn't even have to click the article. The EU can fine up to 6% of the global revenue.
Another reason to ban it altogether.
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