Tag: Commission

Productivity Commission claims wide-spread regtech adoption will lift compliance

An information paper by the Productivity Commission has highlighted how there is scope for Australia to adopt regulatory technology (regtech) beyond the financial sector, with the belief it can improve regulatory outcomes and reduce the costs of administration and compliance.

In its regulatory technology information paper [PDF], the Productivity Commission noted how Australia is “well-placed” to develop regtech solutions given its “relatively stable and sophisticated” regulatory systems, but currently, extensive use of regtech remains relatively low.

“Low awareness can dampen both demand and supply responses — business need to see value in changing their software so that developers see value in investing in applications, which in turn deliver the value businesses need to see,” the paper stated.

It went on to suggest that Australia could extend its existing use of “low-tech” solutions, including digitised data, forms, registers, and transactions to streamline business and individual transactions with government, as well as

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Google India delays enforcing its 30 percent Play Store commission until 2022

Paytm mini-program store

Paytm

Google pointed out that its payment system only applies to three percent of developers, and 97 percent of those already use it. It said that its billing system “provides a simple, safe way for consumers to transact,” and includes reminders about free trials, clear price disclosures and information about cancellations and refunds.

It added that it’s willing to speak with developers to resolve any concerns. “We are setting up listening sessions with leading Indian startups to understand their concerns more deeply,” the company wrote. “And we’re also extending the time for developers in India to integrate with the Play billing system, to ensure they have enough time to implement the UPI for subscription payment option that will be made available on Google Play.”

Still, the policy delay is another front in a rebellion that’s happening against Google and Apple’s app store policies and commissions. Over the past few weeks,

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Google defers charging 30% mandatory Play Store commission in India

Google Play Store on smartphone stock photo 1

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  • Google is delaying its plans to charge a 30% mandatory Play Store commission in India.
  • The company’s decision seems like a reaction to the retaliation from Indian startups.
  • Indian payments startup Paytm has already launched a rival app store with some popular apps.

Google is deferring its controversial new Play Store billing policy in India to March 31, 2022. The new rules stop apps from circumventing Google’s payment system and are scheduled to come into effect globally from September 21. They will ensure Google gets its 30% commission on all paid apps and in-app purchases.

In its latest blog post, Google says that it’s setting up listening sessions and policy workshops with leading Indian startups. The internet giant is also extending the time for developers in India to integrate the Google Play billing system so they can implement a UPI payment option. UPI is a unified payment system in

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European Leaders Ask Commission to Name Areas of Strategic EU Weakness | World News

BRUSSELS (Reuters) – European Union leaders asked their Brussels-based executive on Friday to name strategic areas where the bloc relies too much on countries such as China and the United States, and to propose ways to make amends.

EU leaders said their industry needed to be more competitive, autonomous and resilient after the COVID-19 pandemic highlighted the bloc’s dependence on Chinese components in the production of drugs.

In their decision following a two-day summit in Brussels, the leaders told “the Commission to identify strategic dependencies, particularly in the most sensitive industrial ecosystems such as for health, and to propose measures to reduce these dependencies.”

There is also mounting concern that the 27-nation bloc is lagging the United States in the design and manufacture of batteries and in digital cloud storage.

The EU has set digital and green technologies as priorities and wants to help shift the economy using much of

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European Commission Appeals Ruling In Apple’s $15 Billion Irish Tax Case

KEY POINTS

  • Ireland, which has one of the lowest corporate tax rates in the EU, has long sought investments by foreign companies
  • Vestager has spearheaded a campaign to form new tax laws for foreign tech firms like Apple
  • Dublin has always contended that it did not provide any tax breaks or state aid to Apple

The European Union said it will appeal a court ruling from July that found in favor of U.S.-based tech giant Apple (AAPL) in a 13 billion euro ($15 billion) Irish tax case.

The appeal will be heard in the European Court of Justice in Luxembourg.

The complex case involves allegations that the government of EU member Ireland provided unfair tax breaks to Apple. Initially, in 2016, the European Commission – the executive branch of the EU – ordered Apple to cough up 13 billion euros in back taxes that it claimed it owed to the

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European Commission to challenge Apple tax bill verdict

The EU's Margrethe Vestager says the appeal will go before the European Court of Justice
The EU’s Margrethe Vestager says the appeal will go before the European Court of Justice

The European Commission plans to appeal against a ruling that Apple does not have to pay 13bn euros (£11.6bn) in back taxes to Ireland.

The EU’s General Court had ruled in July there was no evidence Apple had broken any rules on tax paid there.

Ireland never disputed the arrangement but the European Commission, which brought the case, argued it enabled Apple to avoid taxes on EU revenues.

The EU said paying the correct amount of tax was “a top priority”.

In 2016, a court ruled that Apple had indeed been given illegal tax breaks by Dublin – but this was overturned in July 2020.

The European Commission claimed Ireland had allowed Apple to attribute nearly all its EU earnings to an Irish head office that existed only on paper, thereby avoiding paying tax on

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European Commission seeks to regulate cryptocurrencies

Sept. 24 (UPI) — The European Commission revealed Thursday it plans to regulate cryptocurrencies in an effort to make them safer for owners and investors.

The unregulated cryptocurrencies are known for their wild swings in valuations and sizable risk investors take by getting involved with them. But many financial officials also believe they are the currency of the future.

The commission said their plans seek to ensure consumers have protection and financial stability needed as the use of cryptocurrencies expand.

“The future of finance is digital,” Valdis Dombrovskis, executive vice-president for an Economy that Works for People, said in a statement. “We saw during the lockdown how people were able to get access to financial services thanks to digital technologies such as online banking and fintech solutions. Technology has much more to offer consumers and businesses and we should embrace the digital transformation proactively while mitigating any potential risks.”

The

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Brentwood City Commission Approves New Technology for Police Training

Brentwood City Commission Approves New Technology for Police Training

The Brentwood Police Department will move into a newly constructed police facility in the Spring of 2021 and an entire room on the first floor will house a state-of-the-art firearm training simulator system. The technology will allow officers to train in a virtual climate on decision-making scenarios pertaining to use of force including de-escalation tactics.

Brentwood Police Chief Jeff Hughes says this technology is essential. “Despite our continued training on proficiency, police find they are more likely to be criticized for their decision making when it comes to shoot/don’t shoot,” Chief Hughes said. “In those few seconds an officer decides to shoot or not, there are a lot of factors running through one’s mind,” added Chief Hughes. “One of the major benefits of using the professionally produced scenarios on the VirTra Simulator is the cultivation of effective verbal communication (de-escalation skills) with subjects during tense situations,” said Chief Hughes.

VirTra,

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Commerce Commission New Zealand to leave voice and text MTAS regulated

woman holding smartphone,  using cell phone on cafe. Technology for communication concept.

Image: Getty Images/iStockphoto

The Commerce Commission New Zealand (ComCom) issued its final decision on whether to deregulate Mobile Termination Access Services (MTAS) on Wednesday, choosing to roll over the current arrangements in place and leave the services regulated.

MTAS is a wholesale service that allows consumers to send and receive calls and messages between different mobile phone network providers. If unregulated, it would allow telcos to charge higher prices for incoming calls and text messages from other providers.

In 2010, ComCom recommended MTAS be regulated with set prices, with a review to happen at least once every five years.

Of particular interest was whether over-the-top (OTT) services were able to be a competitive replacement for voice or text services. ComCom said, however, they were not an effective constraint yet and deregulation would result in higher prices, particularly for voice.

“Our final position is that we consider that OTT services are

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