New Zealand to implement new Digital Tax on online giants?

New Zealand to implement new Digital Tax on online giants? In this week’s subscription roundup, regulations are back in the spotlight as New Zealand plans to update its laws to tax multinational firms like Amazon, Google and Facebook. The authorities have pointed out the fact that these multinational companies earn a significant chunk of revenue inside the country but are not liable to pay taxes. As more countries enact such taxation laws, the effect will be felt on the bottom lines of these companies. In other news, Amazon is all set to grab $11 billion in advertising revenue in 2019. And finally, streaming giant Spotify has just rolled out support for fitness wearable brand Garmin’s Vivoactive 3 series.

New Zealand’s digital tax to impact Amazon, Google and Facebook?

Earlier this week, the New Zealand government said that it wants to revisit its tax laws so that multinational giants can pay their fair share. Global firms like Google, Amazon and Facebook get away with no to very low taxes in the country under the existing taxation framework. It is expected that this new Digital Services Tax (DST) will be charged at a flat rate of 2-3%. Other countries including Australia, India and the UK, have all enacted or announced plans for similar taxation frameworks.
 
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Amazon Advertising expected to grow to $11 billion by 2019

Advertising has emerged as a highly profitable growth area for Amazon, inaddition to its popular subscription bundle Amazon Prime. According to data by eMarketer, Amazon is now the third largest ad platform in the US after Facebook and Google. The company’s advertising revenue is expected to grow by more than 50% in 2019 to around $11 billion.
 
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Spotify rolls out support for Garmin Vivoactive 3

Spotify has finally rolled outits integration with Garmin’s wearable Vivoactive, months after the initial announcement. Spotify already supported Garmin’s non-touchscreen wearables – Fenix 5 Plus and Forerunner 645 Music. However, users had to wait for Spotify support on Garmin’s low cost Vivoactive 3 series. Users can now play Spotify music with their Garmin wearable through Bluetooth headphones.
 
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Also read: Apple may launch its new subscription services next month