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Italy extends big tech tax probe to Musk's X social network

Economic Times

Economic Times · 5m ago

Italy extends big tech tax probe to Musk's X social network

Italy is seeking €12.5 million from Elon Musk's social network X due to a tax probe similar to one against Meta. The case may influence the tech sector in Europe, focusing on whether user registrations with platforms like X can be taxed as transactions. While €12.5 million represents a minor sum for X, it highlights potential changes to tech industry business models across the EU. Italy has pursued tech companies over tax and might enforce its interpretation through judicial tax review if no agreement is reached.

Related News

X unlikely to fall under landmark EU tech rules, source says

Livemint

Livemint · 10m ago

X unlikely to fall under landmark EU tech rules, source says

Elon Musk's social media platform, X, is expected to avoid being subjected to the European Union's tech regulations. X does not meet the criteria of being classified as a gatekeeper under the Digital Markets Act (DMA), which imposes guidelines on Big Tech. The DMA applies to companies with over 45 million monthly active users and €75 billion in market capitalization. However, X still faces challenges under the EU's Digital Services Act (DSA), which focuses on tackling illegal and harmful online content. Several ongoing investigations are targeting X under the DSA.

Meta, X and LinkedIn appeal unprecedented VAT claim by Italy - The Economic Times

Economic Times

Economic Times · 19d ago

Meta, X and LinkedIn appeal unprecedented VAT claim by Italy - The Economic Times

Meta, X, and LinkedIn are appealing an unprecedented VAT claim by Italy, potentially impacting EU tax policy. Italy argues that free user registrations should be taxable as exchanges of personal data for platform access. The claim, totaling around €1.03 billion for Meta, €12.5 million for X, and €140 million for LinkedIn, is the first of its kind leading to a judicial tax trial, with implications for various companies linking services to user data.

Network fee on Big Tech not a viable solution to boost EU digital rollout, EU says - The Economic Times

Economic Times

Economic Times · 9d ago

Network fee on Big Tech not a viable solution to boost EU digital rollout, EU says - The Economic Times

The European Commission believes imposing a network fee on Big Tech isn't viable for funding 5G and broadband rollout, despite pressure from major telecoms. Telecom companies like Deutsche Telekom and Orange argue Big Tech should share costs since they generate significant internet traffic. However, Big Tech resists, calling it an "internet tax." A forthcoming EU legislative proposal, the Digital Networks Act, aims to enhance digital infrastructure without network fees, taking a comprehensive approach.

Elon Musk's Starlink defies order to block X in Brazil

Economic Times

Economic Times · 11m ago

Elon Musk's Starlink defies order to block X in Brazil

Elon Musk continues to defy Brazilian authorities in his ongoing battle over his social network, X. Despite fines and court orders, Musk has refused to comply with requests to suspend accounts or block the platform in Brazil. Now, Musk's satellite-internet service, Starlink, has informed Brazil's telecom agency that it will not block X, further escalating the dispute. The move showcases Musk's power and his willingness to challenge laws he disagrees with. The dispute has already had consequences for millions of Brazilians and could potentially impact Musk's business in the country.

Brazil's top court orders X not to circumvent ban at risk of daily fine

Economic Times

Economic Times · 10m ago

Brazil's top court orders X not to circumvent ban at risk of daily fine

Brazil's Supreme Court has ordered Elon Musk's social media platform X not to attempt to bypass a previous ruling that suspended the platform in the country. The court has threatened a daily fine of 5 million reais ($921,726.95) if X fails to comply. X recently became accessible to some users in Brazil after an update to its communication network bypassed the court-ordered block. As a result, a 5 million-real fine has already been imposed.

EU has limited power to suspend Elon Musk's X

Economic Times

Economic Times · 6m ago

EU has limited power to suspend Elon Musk's X

The European Union's potential suspension of Elon Musk's social network X is more complicated than suggested, potentially only temporary. Thierry Breton cited the Digital Services Act (DSA) and Digital Markets Act (DMA) as possible legal grounds for suspension, but enforcing them is challenging. The DSA's maximum penalty for platforms like X is only temporary suspension, following fines. Enforcement is slow, as national actions are limited, relying mainly on Ireland where X is headquartered.

Elon Musk’s X Needs Creators, but They Don’t Need X

Livemint

Livemint · 1y ago

Elon Musk’s X Needs Creators, but They Don’t Need X

Elon Musk's social media platform, X, is aiming to attract creators and become a rival to sites like YouTube and TikTok. X launched an ad-revenue-sharing program last year as part of its efforts to entice creators, but is still trailing behind competitors in terms of popularity among creators. Some creators have cited concerns about X's advertising business and payment inconsistencies as obstacles to their full engagement with the platform. Despite this, X is continuing its push to recruit big names and increase content creation on the platform.

Elon Musk’s xAI nears funding at $18 billion value soon as this week

Economic Times

Economic Times · 1y ago

Elon Musk’s xAI nears funding at $18 billion value soon as this week

Elon Musk's AI startup X.AI Corp. is reportedly finalizing a funding round with a valuation of around $18 billion. The exact size of the round remains to be determined, with participants including Sequoia Capital. The funding is being marketed using a pitch deck that highlights Musk's success with Tesla and SpaceX, along with the advantage of being able to leverage data from Musk's social network, X. X.AI aims to compete in the AI chatbot space with other well-established companies like OpenAI.

Brazil watchdog moves to block access to Elon Musk's X after court order

Economic Times

Economic Times · 11m ago

Brazil watchdog moves to block access to Elon Musk's X after court order

Brazil's telecom regulator is suspending access to Elon Musk's X social network in compliance with a court order. The order comes from a judge who aims to enforce hate speech regulations on social media platforms. Musk argues that the censorship is unjustified, while the judge insists on accountability. The feud has also resulted in the freezing of Starlink's bank accounts in Brazil. Moraes, the judge, has ordered that X be suspended until all court orders are followed and fines are paid. Telecommunication companies must stop carrying X's traffic to effectively shut it down in Brazil.

Irish watchdog threatens Elon Musk's X over adult content controls - The Economic Times

Economic Times

Economic Times · 16d ago

Irish watchdog threatens Elon Musk's X over adult content controls - The Economic Times

Ireland's media watchdog has warned Elon Musk's social network, X (formerly Twitter), to implement measures restricting children's access to adult content by Friday or face penalties. Acting on behalf of the EU, the regulator emphasizes compliance with an Online Safety Code that mandates age assurance for platforms allowing pornography. X has yet to meet the stipulated requirements and risks significant financial fines if non-compliance continues. The watchdog is also reviewing other platforms for compliance.

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