A radical overhaul of how big technology companies are regulated has been announced by the president of the European Commission at Web Summit, which this year is a virtual event.
Ursula von der Leyen said the commission would be “rewriting the rulebook for our digital market”.
It will mean far stricter rules for online content – from selling unsafe products to spreading hate speech.
Ms Leyen described herself as a “tech optimist”.
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Fair Taxation: Member States agree on new tax transparency rules on digital platforms
The European Commission welcomes the recent compromise reached by Member States to extend EU tax transparency rules to digital platforms, making sure that those who make money through the sale of goods or services on platforms also pay their fair share of tax. This follows the proposal made by the Commission in July as part of the Action Plan for Fair and Simple Taxation Supporting the Recovery.
The agreed proposal on administrative cooperation (DAC 7) will ensure that Member States automatically exchange information on the revenues generated by sellers on digital platforms, whether the platform is located in the EU or not. This will not only allow national authorities to identify situations where tax should be paid, but will also reduce the administrative burden placed on platforms, who often have to deal with several, different national reporting requirements. The proposal also strengthens and clarifies the rules in other areas in which Member States work together to fight tax abuse, for example through joint tax audits.