Amazon Current Affairs - 2019

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Gafa Tax: France to levy 3% tax on Internet giants

The French parliament approved a law dubbed as Gafa Tax (an acronym for Google, Apple, Facebook and Amazon), the legislation will impose a 3% levy on sales generated in the country by non-tax paying online giants.

Key Highlights

Levying this 3% tax on total annual revenues of largest technology firms providing services to French consumers would make France 1st major economy to impose a tax on internet heavyweights.

Background: At present, digital companies pay nearly no tax in countries where they have large sales like France. The Bill was adopted by National Assembly last week has got its final approval from Senate.

Objective: To stop multinationals from avoiding taxes by setting up headquarters in low-tax European Union (EU) countries. At present, companies pay nearly no tax in countries where they have large sales such as France.

Applicable on: The tax would be applied only to companies with global revenues in excess of €500 million and revenue of at least €25 million from UK activities.

Implications:

As per France’s Finance Ministry estimations the Gafa tax will raise about €500 million ($566 million) in 2019 but that should increase “quickly.”

The tech industry has warned that it could lead to higher costs for consumers.

It could also affect US multinational companies such as Airbnb and Uber as well as those from China and Europe.

Way ahead: Although France failed to persuade European Union (EU) partners to impose a Europe-wide tax on online giants, but it is pushing for an international deal with member countries of Organization for Economic Cooperation and Development (OECD).

Month: Categories: International

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‘Go Tribal’ campaign launched

Go Tribal campaign, was launched by Union Ministry of Tribal Affairs and TRIFED (Tribal Cooperative Marketing Development Federation of India) in association with Amazon Global.

Key Highlights about Campaign

Objective: To create awareness and promote tribal arts and crafts as well as help in socio-economic welfare of more than 700 Indian tribes, by promoting and making available tribal handcrafted textiles, jewellery, and other accessories via global online market spaces.

Organiser: The ‘Go Tribal’ camp was organised by TRIFED.

Global Launch of “TRIBES India”: Under the campaign, Tribes India and Amazon Global Marketing will launch TRIBES India products globally through website (Amazon.com) which will showcase an array of product range.

Amazon, an e-commerce giant company will market ‘Tribes India collections under sections of ‘Tribes of India Heritage Collectionwhich will include handcrafted textiles like ikats, silks and pashminas; tribal jewellery like dokras and banjaras, gifts and pottery and Tribes of India Natural Collectionwhich will include Telangana coffees, Uttarakhand soaps, Karnataka spices and more.

Significance:

The careful precision and handcrafted intricacy of works of tribal master craftsmen from all over India will be showcased through ‘Go Tribal’ campaign.

Through this initiative government wants to promote Indian tribal communities and their art while helping them to go global and providing them opportunities to attain a sustainable livelihood. This could be achieved as online market has no geographical boundaries.

What is TRIFED?

TRIFED is an organization that functions under the aegis of Union Ministry of Tribal Affairs and is engaged in marketing development of tribal products including tribal art and craft under the brand name of TRIBES INDIA.

Month: Categories: Government Schemes & Projects

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