Why Taxing ‘Big Tech’ on Behalf of ‘Big Telecom’ is a Flawed Approach: Insights from Telecom Experts
The telecom industry has been abuzz with discussions around a proposal to tax “Big Tech” on behalf of “Big Telecom”. The idea was put forth to European Union (EU) leaders as a way to address the increasing competition that telecom companies are facing from tech giants.
However, the proposal has been met with widespread criticism from telecom experts who believe that it is a flawed approach. According to them, the plan to tax “Big Tech” will not only fail to address the underlying issues faced by the telecom industry, but it will also harm the very tech companies that are driving innovation and growth.
The telecom industry is facing significant challenges, such as declining revenues and increased competition from over-the-top (OTT) services like WhatsApp and Skype. While the proposal to tax “Big Tech” may seem like a solution, experts argue that it will not address the root causes of these challenges. Instead, they suggest that the telecom industry should focus on improving their own services and offerings to remain competitive in the market.
Furthermore, taxing “Big Tech” will have adverse effects on the very companies that are driving innovation and growth. Tech giants such as Google, Facebook, and Amazon have played a vital role in advancing communication technology, enabling new services and creating jobs. By taxing these companies, the EU risks hampering innovation and slowing down progress in the industry.
In conclusion, the proposal to tax “Big Tech” on behalf of “Big Telecom” is a flawed approach that will not address the underlying issues faced by the telecom industry. Rather than targeting tech companies, the industry should focus on improving their own services and offerings. Additionally, taxing tech giants will harm innovation and growth in the industry, which will have far-reaching consequences for all stakeholders. As such, it is essential for EU leaders to consider alternative solutions that promote innovation and growth in both the telecom and tech industries.