61–68 of 68 posts
I always thought this would be a cool thing to do if I ran Evil Corp... A = B = XOR A Store A in USA Store B in EU The data is not stored in EU, and it's not stored in USA either. It's not stored elsewhere. But Evil Corp still has it!
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How is this actually supposed to work in practice, other than sharding EU and non-EU customers and having them unable to communicate across the shards?
Why unable to communicate? Is there any reason why the relevant non-EU customer data cannot be stored within the EU as well?
Perhaps that's an extreme and pedantic example though.
Politically, stopping data transfers to the US is not viable, because it would impact the deal between the EU and the USA (US covers EU defence for access to the EU common market). For this reason, I don't think we'll ever see a Chinese-style expulsion of US tech companies from the EU. Therefore, we've seen over a decade of a dance between the judiciary banning data transfers to the US (Safe Harbor ruling, etc) and t…
What are you talking about? GDPR is pretty clear.
Despite all of this, we haven't seen any creation of an EU internet, and even in this latest ruling, they've suspended the ruling until they hope the new system comes into place that will allow cross-border data transfers to the US.
The point being that politically, there is no desire in the EU to cut themselves off from the US internet as you see in China, Russia, etc.
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Last I checked the US government taxed US corporations based on profits. One would assume that if US corporations are making less profit due to fines, then they’re also paying less taxes to the U.S. government.
>One would assume that if US corporations are making less profit due to fines, then they’re also paying less taxes to the U.S. government. I'm not familiar with U.S tax law but in the UK fines are not tax deductable. Not sure whether it matters that the fine was imposed by a foreign country.
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The decision goes further than a fine, though. It orders Meta to stop transferring personal data of people in the EU to the US.
How is this actually supposed to work in practice, other than sharding EU and non-EU customers and having them unable to communicate across the shards?
Earlier quoted context omitted.
>One would assume that if US corporations are making less profit due to fines, then they’re also paying less taxes to the U.S. government. I'm not familiar with U.S tax law but in the UK fines are not tax deductable. Not sure whether it matters that the fine was imposed by a foreign country.
It doesn’t really matter if the fine is tax deductible. Less profits means less tax. The U.S. doesn’t tax based on revenue.
For something to be tax deductible means that it reduces taxable income. Essentially it works like this:
Revenue - tax deductable business expenses = taxable income.