The European Union Wants To Tax Robots

It's only fair that robots used by companies to improve productivity pay their fair share of taxes, right?

This might seem ridiculous, but the European Union is looking to create a set of new laws concerning the rise of robots. According to Forbes, one of the new laws would require robots to pay social security taxes.

Related Link: Wal-Mart May Be "Hiring" Shopping Assistants For Patrons: Robotic Shopping Carts Will Tell You What To Buy

Naturally, the law can't specifically force a robot who likely works for free to pay taxes. The European Union does, however, want businesses that make use of robots to pay higher taxes based on the rational that a robot replaces a human worker who otherwise would pay taxes into the system.

"Humankind stands on the threshold of an era when ever more sophisticated robots, bots, androids and other manifestations of artificial intelligence (‘AI') seem poised to unleash a new industrial revolution, which is likely to leave no stratum of society untouched," the report stated. "It is vitally important for the legislature to consider all its implications."

The European Union's report also touched on the possibility of robots surpassing the intellectual capacity of humans, which could call in to question humans' ability to control its own "destiny and to ensure the survival of its species."

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsEurozoneLegalMarketsTechMediaAIArtificial InteligenceEuropean UnionEuropean Union TaxesForbesRobotic LawsrobotsRobots Jobs
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!