Some corporations are currently trying to move out of U.S. tax liability. Some corporations are already international “Big Time. International biz can lead to a whole array of different tax problems in a whole lot of different countries. Google is a case of the latter. There is “Google Ireland.” It sells in continental Europe, including France. France wants more tax francs. Reason: sales biz of a certain sort in France requires biz corps to pay taxes. Google does big biz in France. Negotiations are underway.
Now for the point. European countries are big on administrative litigation. Many cyber insurance policies provide coverage for administrative litigation. Google may not need insurance for its legal (and other fees) in this context. But lots of businesses will.
Hence, this sort of insurance should be purchased by mid-size to smaller cyber companies doing international businesses, depending on the country.
Lots of new business for American lawyers of several different sorts. Imagine specialties in international cyber tax/administration lawyers. The rest of us? Begin learning languages other than just “digitalis.”
Originally posted on 10/13/2014 @ 4:32 pm