The European Commission has hit American processor maker Qualcomm with a €242 million ($385.6 million) fine for abusing its market dominance in 3G baseband chipsets.
The Federal Government has an excellent chance to do itself a favour and also gain some good karma by taking onboard a suggestion by the Treasury to tax big multinational technology companies based on their revenue. It would help the budget bottom line and represent some actual policy for a change.
Apple has paid the first instalment of a fine levied by the European Union for alleged tax evasion, depositing €1.5 billion (US$1.76 billion) into an escrow account set up for the purpose.
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