- Big tech companies are rarely found wanting price fixing, stifling competitors, or misusing data.
- Amazon is still defending itself against a 746 million euro fine from 2021.
- Apple has challenged both the 1.1 billion euro antitrust fine from France and the 13-billion euro tax payment mandate to Ireland.
Big tech companies are rarely found wanting price fixing, stifling competitors, or misusing data; however, it may take years before they make a payment.
AFP was informed by Ireland’s data regulator that Meta has not made any payment toward the two billion euros ($2.2 billion) in fines that have been imposed since last September. In addition, TikTok owes hundreds of millions. According to Luxembourg’s data regulator, Amazon is still defending itself against a 746 million euro fine from 2021.
Billions of Fines
For abusing its market position between 2017 and 2019, Google is still fighting EU fines totaling more than eight billion euros. Apple has challenged both the 1.1 billion euro antitrust fine from France and the 13-billion-euro tax payment mandate to Ireland. Not only the big four but all tech companies of all sizes are affected by this ongoing, worldwide issue.
X (formerly Twitter) is now countersuing, but Australia confirmed this week that the company had not paid a fine for failing to disclose its plans to remove content that depicted child sexual abuse. More drastic measures are needed, according to critics, as fining tech companies does not deter their bad behavior.
Researchers at the Dutch non-profit Center for Research on Multinationals, like Margarida Silva, noted that tech companies have long taken pride in their reputation for “disruption.”
The administration will have been burdened with years and years of expenses even if the company eventually fails. Compared to sectors like finance, where there is still a need to make payments to investors and the public, this distinguishes the tech industry.
It makes sense that businesses would try to appeal significant fines, according to Romaiin Rard, an attorney at Gide Loyrette Nouel in Paris. Recently, appeals resulted in the overturning or significant reduction of billion-dollar EU antitrust fines against Qualcomm and Intel.
Europe‘s system differs from those in places like China or the US, where fines are frequently declared as settlements after protracted proceedings.