Table of Contents
Does Europe have a Silicon Valley?
Swedish capital Stockholm has become the Silicon Valley of Europe birthing and incubating the likes of Spotify, Skype, and Klarna, even though it has some of the highest tax rates in the world.
Why does the EU want to curb Bigtech?
The idea is to prevent the firms gaining unfair advantages via their elevated positions.
What is the EU’s new sweeping set of rules for social media online marketplaces and other online platforms?
The E.U. regulations come in the form of two new laws, one called the Digital Services Act and another called the Digital Markets Act.
Why is Europe falling behind the US?
The eurozone’s economy is diverging sharply from the U.S. and China, as stubbornly high coronavirus infections, extensive Covid-19 restrictions and a painfully slow vaccine rollout delay Europe’s recovery from last year’s historic economic downturn.
What is the name of the Act The European Commission is about to propose which would be a revolutionary overhaul of digital regulation?
The Digital Services Act
The Digital Services Act, due to be presented in early December, is expected to overhaul the management of content on platforms like Google and Facebook and is the first of its kind since 2000.
How will Digital Services Act impact the big tech companies?
The Digital Services Act and its companion bill would collectively give regulators the ability to increase fines on Big Tech companies, and would introduce the prospect of requiring them to break up or be banned from the EU entirely if they commit repeat offenses.
When was Article 13 created?
Draft Article 13 (Article 17 of the directive) tasks service providers that host user-generated content to employ “effective and proportionate” measures to prevent users from violating copyright….Directive on Copyright in the Digital Single Market.
History | |
---|---|
Date made | 17 April 2019 |
Came into force | 6 June 2019 |
Implementation date | 7 June 2021 |
Other legislation |
How does Europe regulate the Internet?
The EU General Data Protection Regulation (GDPR), which governs how personal data of individuals in the EU may be processed and transferred, went into effect on May 25, 2018. GDPR is a comprehensive privacy legislation that applies across sectors and to companies of all sizes.
Why aren’t the world’s largest digital firms European?
Today, of the world’s 15 largest digital firms, not one is European. This loss of leadership is important not only in terms of jobs and growth. It also has much wider ramifications, like being best positioned to shape standards and rules globally.
What are the new rules for digital taxation in the EU?
Fair Taxation of the Digital Economy On 21 March 2018, the European Commission proposed new rules to ensure that digital business activities are taxed in a fair and growth-friendly way in the EU. Proposal for a COUNCIL DIRECTIVE laying down rules relating to the corporate taxation of a significant digital presence.
Is Europe lagging behind in tech innovation?
Skype, a European tech success later sold to Microsoft. When it comes to technological innovation, Europe is now lagging behind not only the US and Japan, but also China. Recently China overtook the EU with R&D expenditure equivalent to 2.1\% of GDP. Today, of the world’s 15 largest digital firms, not one is European.
Where are Europe’s biggest tech companies located?
Although the UK is home to the largest cumulative value of $1 billion-plus tech firms in Europe, the continent’s biggest companies are found in Scandinavia. Spotify is by far Europe’s most highly valued tech company. The Swedish music streaming service is reportedly being valued at around $16 billion.