Russia plans to imply strict rules and penalties on technology firms

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The Russian flag waves in the wind on the rooftop of the Consulate General of Russia in San Francisco, California, U.S., September 2, 2017. REUTERS/Stephen Lam

Russia is now planning to stiffen up the rules which are on all the technology firms so that it is able to generate more revenue for all the technology companies. Facebook will be one of those companies which will be suffering hugely because of these laws that are implemented by Russia.

All the tech giants are really worried about all the problems and penalties that they will be paying because of the new rules that are set up by Russia. In the past few years, Russia is working hard in the field of technology and more and more people are working so that Russia is able to keep the rules strict and it is able to control the whole situation.

The fines that are set up by Russia are very hard in nature and any technology company which is working in Russia will now have to be extremely cautious to avoid those fines.

The plan of Russia to harden the whole fines in a consultation document has been prepared by Vladimir Putin, who is the president of Russia. Russia is working on a tool, which will basically enforce all the data and the rules that are typically a couple of thousand dollars. Companies who will be violating those laws will have to end up paying a lot of money for their online services.

The Russian Government is trying to amend all the legislative rules which are all related to the rules of the technology company, which are subjected to fine about 1 percent of the annual revenue of the company which will add up to a big amount. The technology companies are not at all pleased with the decision and they are working really hard to fight this rule.

There has been a couple of amendments in the whole set up, but it has finally been decided that Russia will keep all the rules strict and the technology companies which are violating the rules will have to pay about 1 percent of the total yearly revenue.

According to sources, the only reason why Russia has become so much strict with all the laws related to technology is that the government has realized that it is the perfect place to grow its economy without having to invest a huge amount of money.

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