Should Tech Giants pay Taxes when Making Money Here?
The spotlight swung on the Global Technology Giants in discussion during the CPA Australia-Fiji branch congress which has just ended. The discussion needs to continue.
Tech companies
Companies like Facebook, Amazon and Google who are more predominant in our country, are the most valuable publicly-traded companies in the world.
Some countries are seriously thinking of taxing big tech companies. And why not?
With billions of people using their platforms globally, these companies leverage user data to tighten their grip even more on market share and profit.
So we should think of taking the idea of taxing big tech giants on board.
About CPA congress
At the two-day CPA Congress at the Shangri-La’s Fijian Resort on Yanuca Island, technology and artificial intelligence was at the core of discussion.
The delegates were made up of more than 500 leading accounting, finance and business professionals.
Stephen Scheeler
Stephen Scheeler, The Digital chief executive officer (CEO), Former CEO of Facebook in Australia and NZ presented on the digital world is fast moving ahead: The risks of falling behind during the Congress.
“Facebook didn’t pay enough taxes in New Zealand so Facebook is doing what the law says.
“I firmly believe that yes that we need to completely rethink how businesses make money and how they pay taxes.
“I am not happy that Facebook, Google, Amazon and all tech giants don’t pay taxes in so many countries where they have so many users. We have to change it
“Amazon is a classic case in US, where the state base retail taxes which they never been paying but local retailers do
“My point is don’t get mad at the companies but get mad at the Governments and politicians because they are the ones that set the law.”
Inia Seruiratu
However on Friday, Inia Seruiratu Minister for Foreign Affairs, Defence and National Security Inia Seruiratu on Friday also raised some concerns over global technological companies who have hundreds of thousands of users in Fiji. But they don’t even ensure the capacity to translate our vernacular languages to sort through threats and hate speech.
“In Fiji, we feel the presence of global big-tech companies -- some with net values 100 times the size of own GDP -- who have hundreds of thousands of users in Fiji. “These companies are rarely ever registered entities in our country, they don’t have any Fijian offices, they don’t even have the capacity to translate our vernacular languages to sort through threats and hate speech.
“How do we protect our citizens from online abuse or criminal networks from using these platforms to coordinate their activities?
Technological advancement
“When it comes to the advancement of digital technologies, the AsiaPacific region is surging to the front of the pack -- how do we, as Pacific island countries, capitalise on that opportunity?”
“But truly transformative technologies can’t only see our people as mere “users”.
“How do we put more of our people in the offices of the companies driving these advancements –– making the transition from user to creator? “How can we leverage technology to preserve our unique cultures and identities?
“I’ve previously served as the Fijian Minister for Agriculture -- seeing the advances in what’s been dubbed the “ag-tech boom” is re-defining farming as we know it.
“What steps can countries like Fiji take -- today -- to give ourselves a competitive advantage in building an adaptable, scalable and innovative agro-sector?
“And when it comes to embracing these transformative technologies, how do we assure that our entire societies are uplifted, mitigating a widening “digital divide” that only benefits the privileged few who are armed with the tools and capacity to succeed in a modern economy?
“How can we ensure that digital literacy isn’t a language of the elite, but an enabler for the disadvantaged? How do we safeguard trustworthy and reliable information and news online, and teach our citizens to distinguish fact from falsehood?
“I believe the answers lie in opening doors of communication with the leaders of the tech revolution. “We openly embrace it. And we’re ready to work with leaders in the digital space to help chart a path to a more inclusive digital future.
“One where massive economic opportunities are realised, one where online spaces are safe for all people, and one where the interests and perspectives of Fijians and all Pacific people are represented at the global tech decision-making table.
Liam Malone
Meanwhile Paralympic Gold Medalist, Artificial Intelligence technology specialist Liam Malone spoke on the Artificial Intelligence: Service through lifelike digital human
“I was a professional athlete so I did that for four years and I had the most amazing life and I was sponsored by Nike had huge contracts and travelling the world in first/business class. “My message is when everyone is talking about AI, try and learn new things. I was able to transition within a year just by working really hard. “So when everyone keeps telling you that the world is going to end with digital technologies, don’t believe them everything is going to be okay.”