A group of 137 countries and jurisdictions agreed to move ahead with negotiations
to address tax challenges of the digital economy, according to a statement
released Friday by the Organization for Economic Cooperation
and Development (OECD).
The countries "affirm their
commitment to reach an agreement on a consensus-based solution by the end of
2020," the statement said. The statement followed talks among the
countries this week in Paris that were overseen by the OECD.
The multilateral negotiations
come as several European countries have been pursuing unilateral digital taxes
that would primarily affect major U.S. tech companies such as Facebook, Amazon
and Google. These countries are seeking to raise tax revenue from companies that
have many users in their jurisdictions but pay little in taxes there.
However, U.S. policymakers
oppose individual countries acting on their own to create digital taxes,
arguing that the taxes unfairly target American tech companies, and think the
best route would be an agreement on a framework at the OECD level.
After France enacted a digital
tax last year, the U.S. trade representative proposed tariffs on $2.4 billion
on French goods in response. The two countries earlier this month reached a
truce under which France will postpone collecting its tax until the end of the
year and the U.S. will postpone tariffs. Treasury Secretary Steven Mnuchin has also
warned the United Kingdom and Italy that they will face tariffs if they move
forward with digital taxes.
The OECD said that the countries
participating in the digital tax talks have agreed on an approach that will
form the basis of negotiations on "Pillar One" rules about where
taxes should be paid and how profits should be allocated.
in December that Pillar One be a "safe-harbor
regime," which would mean that companies could choose whether to opt into
The statement released by the
OECD said that many other countries participating in the talks "express
concerns that implementing Pillar One on a ‘safe harbour’ basis could
raise major difficulties, increase uncertainty and fail to meet all of the
policy objectives of the overall process." The countries involved in
the talks won't make a decision about the safe-harbor issue until after other
elements of an agreement have been reached, the OECD said.
World’s 1st remote brain surgery via 5G network performed in China Published time: 17 Mar, 2019 13:12 · A Chinese surgeon has performed the world’s first remote brain surgery using 5G technology, with the patient 3,000km away from the operating doctor. Dr. Ling Zhipei remotely implanted a neurostimulator into his patient’s brain on Saturday, Chinese state-run media reports . The surgeon manipulated the instruments in the Beijing-based PLAGH hospital from a clinic subsidiary on the southern Hainan island, located 3,000km away. The surgery is said to have lasted three hours and ended successfully. The patient, suffering from Parkinson’s disease, is said to be feeling well after the pioneering operation. The doctor used a computer connected to the next-generation 5G network developed by Chinese tech giant Huawei. The new device enabled a near real-time connection, according to Dr. Ling. “You barely feel that the patient is 3,000 kilometers away,” he said.
Visualizing The Power Of The World's Supercomputers BY TYLER DURDEN FRIDAY, JAN 21, 2022 - 04:15 AM A supercomputer is a machine that is built to handle billions, if not trillions of calculations at once. Each supercomputer is actually made up of many individual computers (known as nodes) that work together in parallel. A common metric for measuring the performance of these machines is flops , or floating point operations per second . In this visualization, Visual Capitalist's Marcus Lu uses November 2021 data from TOP500 to visualize the computing power of the world’s top five supercomputers. For added context, a number of modern consumer devices were included in the comparison. Ranking by Teraflops Because supercomputers can achieve over one quadrillion flops, and consumer devices are much less powerful, we’ve used teraflops as our comparison metric. 1 teraflop = 1,000,000,000,000 (1 trillion) flops. Supercomputer Fugaku was completed in March 202
Beijing Orders Alibaba To Dump Media Assets That Rival China's Propaganda Machine BY TYLER DURDEN MONDAY, MAR 15, 2021 - 07:30 PM Beijing is reviving its crackdown on the country's biggest tech firms, reminding the world that the CCP is still focused on neutralizing any and all threats to its control of the Chinese economy and its people. Even after amending China's official ideology to include entrepreneurs among the protected classes represented by the CCP (in addition to workers, farmers and soldiers), Beijing, with President Xi at its center, has apparently decided that Chinese tech firms won't follow the American model after all. Instead, their growth and competitive capabilities will be curtailed for the sake of stability at home. After Tencent was censured and strict new requirements were officailly imposed on Alibaba-owned Ant Group that will prevent the company from growing , the Wall Street Journal reports that next up on Beijing's to-do lis