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Showing posts from November 3, 2023

Fortnite creators penalized for not paying taxes over 3 years for ¥30 billion ($23 million) in japan

In a startling turn of events, the subsidiary of a major online gaming juggernaut, Epic Games Inc., is grappling with a hefty financial blow. Ordered to settle back taxes and penalties amounting to a staggering 3.5 billion yen ($23 million), the gaming giant finds itself in the spotlight for neglecting consumption taxes over a three-year period. Play Fortnite Battle Royale, the completely free 100-player PvP mode. The Origins of Fiscal Woes The crux of the matter lies in unpaid consumption taxes tied to purchases made by avid users indulging in the virtual battlegrounds of Fortnite, an online shooting sensation. The repercussions of this financial lapse have triggered a thorough investigation by the Tokyo Regional Taxation Bureau, unearthing a rare instance of Japanese authorities scrutinizing foreign companies and imposing substantial penalties. Epic Games Subsidiary Tax Audit Unveiled The comprehensive tax audit uncovered a significant failure on the part of Epic Games' Luxem...

Bank of America warns of banking industry deposit delays and Navigating ACH Errors

Friday sent shockwaves through the usually tranquil world of banking as Bank of America raised a red flag, cautioning customers about potential hiccups in their deposits. What ensued wasn't an isolated blip but a widespread glitch affecting numerous banks throughout the United States. Bank of America logo The Domino Effect: The Secure Electronic Payments System  The Federal Reserve verified that a snag in a payment processing network was the root cause of the deposit delays. In an era where digital transactions reign supreme, such disruptions are seldom witnessed. However, banks promptly reassured customers that their deposits were secure, attributing the anomaly to human error rather than a sinister cyber-attack. While the deposit delays swept through a multitude of banks, an interesting pattern emerged – other banking systems appeared to chug along smoothly. This begged the intriguing question: Why did this specific glitch cause a widespread delay, and why were certain banks...

FDA Bans Brominated Vegetable Oil: A Potentially Harmful Additive Ingredient Found In Some Sodas

In a bold maneuver, the US Food and Drug Administration (FDA) is gearing up to slam the door on brominated vegetable oil (BVO), a controversial additive lurking in certain sodas. This seismic regulatory shift follows recent animal studies that have sounded the alarm on its thyroid-threatening effects. BVO: This food additive is banned in numerous countries but legal in the United States Setting the Scene: California Food Safety Act California takes the lead, waving the ban flag on BVO back in October through the California Food Safety Act. It's a historic move, making California the pioneer state in the US to outlaw the use of this dicey brominated vegetable oil. Let's not forget, BVO already got the boot in Europe and Japan, underscoring the global unease about its safety. James Jones, the FDA's deputy commissioner for human foods, dropped a bomb, stating, "The agency concluded that the intended use of BVO in food is no longer considered safe after the results of s...

Jeff Bezos to leave Seattle for Miami nearly 30 years after founding Amazon

In an unexpected twist, Jeff Bezos, the creative force behind Amazon, is bidding adieu to the familiar rain-soaked streets of Seattle after nearly three decades. This luminary who reshaped the e-commerce landscape and nurtured an empire from a humble garage is now embarking on a new journey, steering towards the sun-drenched haven of his hometown, Miami. Jeff Bezos, Amazon Founder, entrepreneur and owner of the Washington Post A Heartfelt Announcement Move From Seattle to Miami Bezos, ever the modern storyteller, chose Instagram to share this momentous decision with the world. In the quiet of a Thursday evening, he accompanied the announcement with a touching video tour, revisiting Amazon's modest beginnings in Seattle—a poignant farewell to the birthplace of the e-commerce giant. The Pull of Family and Blue Origin in Cape Canaveral At the age of 59, Bezos unveils that his shift to Miami isn't merely a calculated business move; it's deeply personal. Rooted in a desire...