Big tech companies delay payment of fines for years

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Big Tech,Fines,Payment

Big tech companies such as Meta, TikTok, Amazon, Google, and Apple have been fined for various reasons, but it can take years before they actually pay the fines.

Rarely a month goes by without big tech companies getting fined for price fixing, squashing competitors or misusing data, but it can take years before they pay a penny. Ireland’s data regulator confirmed to AFP that Meta has not paid any of the €2 billion (RM10.2 billion) in fines issued since last September. TikTok also owes hundreds of millions. Amazon is still appealing against a €746 million fine from 2021, Luxembourg’s data regulator told AFP.

Google is still disputing EU fines worth more than €8 billion for abusing its market position between 2017 and 2019. Apple has fought for years against a French antitrust fine of €1.1 billion and an order to pay €13 billion of tax to Irelan

 

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