UK 'Google tax' will target inter-company payments: A new British tax on companies that shift profits out of the country and into tax havens will target inter-company fees for services like use of intellectual property, according to a Treasury document seen by Reuters.
Companies will also be required to report their potential liability to the new tax, which the note said will sit outside the existing corporate tax system. That is intended to avoid legal challenges under existing tax treaties with countries like Ireland, a major conduit for shifted profits. (Reuters)
Uber is sued by San Francisco, Los Angeles: Uber Technologies Inc. now faces a civil suit on its home turf as it battles regulatory and legal challenges in cities around the world.
The district attorneys of San Francisco and Los Angeles on Tuesday sued Uber for allegedly misleading consumers and said it is seeking a permanent injunction of the business until it complies with California law. (The Wall Street Journal)
Amazon will allow negotiating on prices for some products: Amazon has introduced a price-negotiating feature for some of its items in an apparent bid to boost sales in its collectible and fine art categories, which include sports and entertainment memorabilia.
Participating sellers can include a "Make an Offer" feature on a product listing that lets shoppers offer a price below the list price.Seller and buyer can then continue to negotiate via email if the seller counters the shopper's offer. Amazon is introducing the feature first in product categories where auction bidding is common, but says customers won't be able to bid above the list price. (Recode)