The BIG TECH : Ask Them to Return the Loot
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Dear Smt Sitharamanji ,
India is a party to the 2021 OECD-sponsored agreement between 140 countries, to levy minimum global corporate tax of 15% on multinational companies
To best of my knowledge, this has not been implemented by India, so far
If – and when – we try to implement it , legal battles will never end
In the meantime , BIG TECH are having a field-day, compiling private / personal USER DATA ( without their explicit / informed consent ) – then SELLING that data to advertisers to mint BILLIONS of dollars, year after yea
r
I urge you to consider my several earlier emails , suggesting a simple method of enabling India’s 500 million users of Big Tech, to monetize their personal data , by forcing Big Tech to compensate the users
Eg ; Even if Big Tech companies are required to pay $ 100 ( Rs 8300 ) per year to our 500 million users , that would amount to $ 50 Billion / year
Compare this with figure of $ 66.3 Billion mentioned in the last column of following tabulation
At the bottom of this mail, I list my earlier emails
With regards,
Hemen Parekh
www.hemenparekh.ai / 08 Mar 2024
Source > HINDU Business Line – 03 March 2024
How Much BIG TECH companies Scooped In - $ Billions :
A
B
C
D
Year
Total Market Cap
Total Revenue
Total Net Profit ( post tax )
15 % of C
2022
7512
1614
286
42.9
2023
11709
1770
363
54.5
2024
13404
1953
445 ( more than total receipts forecast in India’s interim Budget for FY 2025 )
66.3
Estimated Capex - $ Billions
Dear Smt Sitharamanji ,
India is a party to the 2021 OECD-sponsored agreement between 140 countries, to levy minimum global corporate tax of 15% on multinational companies
To best of my knowledge, this has not been implemented by India, so far
If – and when – we try to implement it , legal battles will never end
In the meantime , BIG TECH are having a field-day, compiling private / personal USER DATA ( without their explicit / informed consent ) – then SELLING that data to advertisers to mint BILLIONS of dollars, year after yea
r
I urge you to consider my several earlier emails , suggesting a simple method of enabling India’s 500 million users of Big Tech, to monetize their personal data , by forcing Big Tech to compensate the users
Eg ; Even if Big Tech companies are required to pay $ 100 ( Rs 8300 ) per year to our 500 million users , that would amount to $ 50 Billion / year
Compare this with figure of $ 66.3 Billion mentioned in the last column of following tabulation
At the bottom of this mail, I list my earlier emails
With regards,
Hemen Parekh
www.hemenparekh.ai / 08 Mar 2024
Source > HINDU Business Line – 03 March 2024
How Much BIG TECH companies Scooped In - $ Billions :
A
B
C
D
Year
Total Market Cap
Total Revenue
Total Net Profit ( post tax )
15 % of C
2022
7512
1614
286
42.9
2023
11709
1770
363
54.5
2024
13404
1953
445 ( more than total receipts forecast in India’s interim Budget for FY 2025 )
66.3
Estimated Capex - $ Billions
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