India’s looking to reform century-old international tax laws — but that might not be good news for everybody
India’s Finance Minister, Nirmala Sitharaman, is going to G20 Summit in Japan this week to put forth India’s plan for how global tech giants should be taxed. The international tax laws that are up for debate are nearly a 100 years old.
This may be good news for countries like India where the number of internet users is still growing but countries like Ireland, who have been benefited from being home to Facebook’s headquarters, are looking to find alternative revenue streams.
Why you should care:
India is proposing that tech giants should be taxed proportionally. That basically means taxations will happen depending on where tech giants have actual users, not based where they have placed their headquarters. For countries like India, that a big boon since its the local users that propelling growth for a lot of these companies.
Flipboard’s resetting user passwords after a data breach
Flipboard sent out a notification to all its users that their passwords have been reset after the company spotted that someone had gained authorised access to their databases. The databases contained user data, including their account credentials. The company did not disclose exactly how many accounts were vulnerable to the attack.
Why you should care:
For one, if you’re a Flipboard user, you should probably log on as soon as possible and put in a new password for the app. And two, this goes to show how despite having safeguards in place — data is never truly secure. Industry experts have repeatedly stated that data protection is not keeping up with the threats that lie in the market.
The tech bids are in for the new government’s first ‘Make in India’ project
The newly formed government is India hasstarted work on its first ‘Make in India’ project for the defence sector. They opened tech bids for the ₹21,000 crore project that aims to manufacture naval utility helicopters in collaboration with a foreign manufacturer.
People familiar with the matter have said that foreign manufacturers will partner with the Navy to fulfill the requirement of 111 helicopters that operate from frontline warships.
