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Monday Feb 06, 2023

Donald Trump’s company fined $1.6 million, know the reason Donald Trump company fined 1 6 million dollars this is the reason


Judge Juan Manuel Mercan imposed the maximum penalty under the law. However, this is only double the amount of tax evasion committed by a small group of officials.

Donald Trump's company fined $ 1.6 million, know the reason

Donald Trump. (file photo)

Image Credit source: TV 9

America former president of Donald Trump The company has been fined $1.6 million on Friday. Top executives of Trump’s company paid less personal income taxes on the expensive perks of the job. That was the only fine the court could impose on Trump’s company despite pleading guilty last month to 17 tax-related crimes, including conspiracy and falsifying business documents.

Judge Juan Manuel Mercan imposed the maximum penalty under the law. However, this is only double the amount of tax evasion committed by a small group of officials.

The fine is less than the cost of a house in Trump Tower

Trump is not being investigated in this lawsuit and he denied knowing about any incident of illegal tax evasion by his officials. The fine is less than the cost of a house in Trump Tower and will not affect the company’s operations or future, but a conviction will damage the Republican leader’s image. He has started a campaign to become President again.

Trump Organization will challenge the decision

Subsidiary companies of Trump Organization – Trump Corporation have been fined $8.10 lakh and Trump Payroll Corporation has been fined $800,000. After the fine was ordered, the Trump Organization said it had done nothing wrong and would challenge the decision.

According to the statement, “New York has become the crime and murder capital of the whole world. Yet these politically motivated people only want to trap Trump and their never-ending hunt began the day after he launched his candidacy for the presidency.”

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NCLAT on Google | Google fined Rs 936 cr, NCLAT refuses interim relief


Google fined Rs 936 cr, NCLAT refuses interim relief

New Delhi: The National Company Law Appellate Tribunal (NCLAT) has refused to grant interim relief to Google in the matter of Rs 936.44 crore fine imposed on it by the Competition Commission of India (CCI). CCI imposed this fine on Google for abusing its dominant position with respect to Play Store policies. The NCLAT directed Google to deposit 10 per cent of the fine in its registry within the next four weeks. A two-judge bench of the Appellate Tribunal on Wednesday issued notice to the CCI and other respondents.

Now further hearing on the matter will be held on 17 April 2023. Last week too, the appellate tribunal had directed Google to pay 10 per cent of the Rs 1,337.76 crore fine imposed on it by the Competition Commission of India (CCI). The NCLAT bench had allowed Google’s plea against the penalty order of CCI but refused to immediately stay the implementation of the penalty, saying it would pass an order only after hearing other parties.

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The CCI in October, through two orders passed in less than a week, imposed a fine of over Rs 2,200 crore on Google. On October 25, the CCI imposed a fine of Rs 936.44 crore on Google for abusing its dominant position in Play Store policies.

Apart from the fine, the CCI had said that Google should not restrict app developers from using any third party billing/payment processing services for app purchases. Earlier, the regulator had on October 20 imposed a fine of Rs 1,337.76 crore on Google for abusing its dominant position in multiple markets with respect to Android mobile devices. (agency)



Facebook Fine | UK fined Facebook €390 million, know what is the whole matter

Meta and Facebook

Meta and Facebook

Delhi : The Irish Data Protection Commission has ordered Facebook’s parent company Meta to pay two fines totaling €390 million (over Rs 4,35,43,00,000). Facebook’s parent Meta has been fined hundreds of millions by Irish regulators. The Irish privacy regulator concluded that the company’s advertising and data handling practices were in breach of EU-wide privacy law. The Irish Data Protection Commission said that Meta should be ordered to pay two fines. fined €210 million for breaches of the EU’s General Data Protection Regulation (GDPR), and ordered Instagram to pay a €180 million fine linked to GDPR breaches.

Profits fell almost 50 percent

The fine comes at a time when Meta’s profit forecast for 2023 has fallen by almost 50 per cent, according to the data. The company’s much-hyped Metaverse push is struggling and performance numbers indicate both users and advertisers are moving away from the platform, perhaps with the exception of Instagram Reels and messaging platform WhatsApp, and Meta which changed its name from Facebook in 2021, rebranding Since then, its share price has seen a drop of about 60 percent.

Changed the terms of service for both Facebook and Instagram

Most importantly, maybe Meta will have to change their apps over the next three months to ensure that they don’t take advantage of personal data for advertising. This could be a major blow for the company in terms of how its advertising model works. Meta previously relied on user consent to process this information for the purposes of behavioral advertising, but changed the terms of service for both Facebook and Instagram on processing.

 

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