Updating the tax system for the digital age
A UK Digital Services Tax service will be launched by April 2020, raising £400m a year.
This afternoon’s budget saw the chancellor introduce the “narrowly targeted tax of the UK revenues from digital business models.”
The Chancellor stressed that the tax was not aimed at online sales goods, but was instead aimed at profitable firms with at least £500m in global revenues.
Hammond said: “We are serious about this reform. It is only right that these global giants with profitable business in the UK pay their fair share ... You can carry on reading TheBusinessDesk.com for free, but you have reached the maximum number of pages an unregistered user can view. To register for an account, click here or login below...