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A comment on Facebook CEO says no plans to extend all of GDPR globally. Parent comment

Re:Facebook CEO says no plans to extend all of GDPR globally by JumpCrisscross on Tuesday April 03, 2018 @10:39PM (#16751449)
> an independent corporation wholly owned by Facebook would not have worldwide revenue

Legal concepts like "beneficial ownership" [1] and the definition of an "affiliate" under U.S. securities law [2] deal with this.

TL; DR When it comes to taxes, modern law isn't tricked by incorporated Russian dolls [3].

[1] https://en.wikipedia.org/wiki/Beneficial_ownership

[2] https://www.law.cornell.edu/cfr/text/17/230.405

[3] https://en.wikipedia.org/wiki/Matryoshka_doll

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Re:Facebook CEO says no plans to extend all of GDPR globally by stevenwoo on Wednesday April 04, 2018 @12:30AM (#16751933)
Ireland was kind enough to leave a grace period for closing the double Irish tax loophole and give companies time to switch to a new tax loophole. https://www.irishtimes.com/business/economy/multinationals-t...
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Re:Facebook CEO says no plans to extend all of GDPR globally by fenrisbear on Wednesday April 04, 2018 @08:54AM (#16754209)
Cooperations have had 2 years meeting GDPR requirements.

If you're late to the party, which I think the majority businesses in and out of Europe are, means you have made other priorities.

Question is whether or not how hard they hit when GDPR goes live 25th of May. That remains to be seen, but it wouldn't surprise me if there's a `grace` period.

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