This article is
part of the research work of Perry4Law,
India’s exclusive techno legal corporate,
IP and ICT law firm.
Taxation and antitrust laws are in limelight these
days throughout Europe, United States (US), United Kingdom (UK),
China, India and other places of the world. Consider the examples of
various technology companies that are in the limelight for the wrong
reasons.
For example, recently an e-book
price escalation lawsuit has been settled by Penguin Group.
Similarly, the European
Commission and publishers’ settlement for e-book price fixing
is another incidence where regulatory bodies have taken acts of
technology companies seriously. Media reports are also projecting
that Google,
Facebook, Samsung etc may face more scrutiny from EU and US
regulators in the year 2013.
In the United Kingdom as well regulatory authorities
are not happy with the taxation affairs of various multinational and
technology companies. Public outcry erupted when allegations of tax
avoidance were labeled against Amazon,
Google and Starbucks regarding UK Tax Laws.
Even in China companies are facing punishments for
violating local laws. For example, Apple
has been fined by Beijing Court for unauthorised sale of e-book.
Indian government is also not far behind. After canceling the telecom
licenses of many telecom companies, now Indian
government would ascertain beneficiary in Walmart probe to
ascertain possible violation of Indian laws.
The Competition
Commission of India (Procedure in Regard to the Transaction of
Business Relating to Combinations) Regulations, 2011 have
also been formulated by the Competition Commission of India in 2011
to regulate anti competition combinations. The same may be pressed
more frequently in the year 2013.
The year 2013 would see an enhanced regulatory
scrutiny by various regulatory bodies and authorities throughout the
world. Countries are also entering into bilateral treaties to make
the respective companies liable for their acts or omissions.
Presently many multinational companies and technology giants are
avoiding tax liabilities and are avoiding compliance with various
regulatory requirements. This would not be an easy task in the year
2013.
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