- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
While it might seem as if the European Union has it in for Google, a search of its open cases will reveal that it has its sights set on more than just the search engine firm.
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Google will pay $1 billion in penalties and back taxes, putting to an end a pair of investigations in France into whether the tech giant properly declared the full extent of its activities in the country.
A recent report details an extensive tax avoidance strategy by furniture retailer IKEA, prompting a call for a full-blown investigation of the company and its complicated corporate structure.
Breaches of the EU’s GDPR can cost companies substantial sums and huge reputational damage. Now some are warning that the implementation of the EU’s AI Act will be just as far-reaching, and could potentially lead to similar numbers of cases.
