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Submission + - Oracle Charged $293M In Korean Back Taxes

An anonymous reader writes: Multinational tech giant Oracle has been charged $293 million USD ($300 billion won) for corporate tax evasion in South Korea. The $293 million charge is made up of back taxes, as well as a punitive charge from the government tax agency. The of the tax debt in January of last year, when the National Tax Service (NTS) charged Oracle with evasion of corporate tax payments on 2 trillion won in earnings from 2008-2014. Oracle was accused of funneling revenues to Ireland to avoid paying taxes in South Korea. In an audit of the company’s books, the tax authority found that Oracle had channeled profits generated in South Korea to an Irish subsidiary; however, it was found that those funds ultimately profited the company’s headquarters in the United States. Because of this, the NTS determined that Oracle should have paid taxes on profits generated in South Korea to the South Korean government.

Submission + - The Incentives For Software Firms To Take Security Seriously Are Too Weak (economist.com)

dryriver writes: The Economist reports: "The software industry has for decades disclaimed liability for the harm when its products go wrong. Such an approach has its benefits. Silicon Valley’s fruitful 'go fast and break things' style of innovation is possible only if firms have relatively free rein to put out new products while they still need perfecting. But this point will soon be moot. As computers spread to products covered by established liability arrangements, such as cars or domestic goods, the industry’s disclaimers will increasingly butt up against existing laws. Firms should recognise that, if the courts do not force the liability issue, public opinion will. Many computer-security experts draw comparisons to the American car industry in the 1960s, which had ignored safety for decades. In 1965 Ralph Nader published 'Unsafe at Any Speed', a bestselling book that exposed and excoriated the industry’s lax attitude. The following year the government came down hard with rules on seat belts, headrests and the like. Now imagine the clamour for legislation after the first child fatality involving self-driving cars. Fortunately, the small but growing market in cyber-security insurance offers a way to protect consumers while preserving the computing industry’s ability to innovate. A firm whose products do not work properly, or are repeatedly hacked, will find its premiums rising, prodding it to solve the problem. A firm that takes reasonable steps to make things safe, but which is compromised nevertheless, will have recourse to an insurance payout that will stop it from going bankrupt."

Submission + - SPAM: If your TV rats you out, what about your car?

schwit1 writes: Nowadays, auto manufacturers seem to be tripping over each other pointing out that they offer Apple CarPlay and Google Android Auto. And more recent phenomenon are announcements—from companies including Ford and Hyundai—that they are offering Amazon Alexa capabilities. You talk. It listens.

In late January, General Motors said it is releasing a next-generation infotainment software development kit (NGI SDK) to software developers to write apps for GM cars. The NGI SDK includes native Application Program Interfaces (APIs) that allow access to expected things — like oil life and tire pressure and whether lightbulbs are burned out — but unexpected things, as well. Like the presence of passengers in the vehicle.

Here's the thing. While it may seem appealing to have all manner of connectivity in cars, there is the other side of that. Without getting all tinfoil hat about this, when your TV set is ratting you out, isn't it likely that your car will?

It drives. And watches. And listens. And collects data the likes of which you might otherwise not have shared.

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