UK will keep the ‘Facebook tax’ for now, says the Treasury

UK will keep the ‘Facebook tax’ for now, says the Treasury

3 years ago
Anonymous $UzyKJJH9oy

https://tech.newstatesman.com/policy/uk-will-keep-the-facebook-tax-for-now-says-the-treasury

The UK government says it will keep the digital services tax (DST) until there is an international framework for taxing tech giants, contradicting reports that it planned to drop the tax to appease the US.

The levy, which applies to tech companies making more than £500 million in global revenue, was quietly introduced in chancellor Rishi Sunak’s 2020 budget, despite fears th`at it would trigger US retaliation and potentially jeopardise a post-Brexit trade deal.