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South Korea: Legislation planned to address Google dominance

By  |  September 18, 2014

South Korea is set to enact legislation aimed at reigning in Google’s dominance and what some consider to be monopolistic behavior, say reports.

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    Google currently enjoys tax exemptions in the nation, a fact that has caused legislators to consider whether domestic competitors are faced with reverse discrimination. Reports say the legislation will also address Google’s monopoly in the nation’s operating system and search market.

    The bill, named The Act to Prevent a Monopoly and Reverse Discrimination, would include a measure to require Google to explain to authorities where they pay taxes and where they make sales.

    Reports say the legislation would also aim to prevent “tax switching” by US firms to reduce taxes.

    The legislation comes just weeks after the Ministry of Strategy and Finance would impose value-added taxes on foreign companies beginning next year, according to reports.

    Full content: Businessweek

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