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The UK government is planning a digital tax for Internet companies such as Google, Facebook and Amazon. It was untenable and unfair that online platforms in the United Kingdom generate large sums of money without paying taxes, said Finance Secretary Philip Hammond during the budget debate. Parliament's annual report.
As of April 2020, profitable businesses should pay a 2% tax on the money earned by UK users. The tax should therefore come at a time when the United Kingdom wants to close after the new trade agreement between Brexit and the United States.
Large companies are expected to pay the most taxes
The new tax would be designed to ensure that established technology companies pay the tax burden rather than start-ups, Hammond said. This should apply to companies with a turnover of at least 500 million pounds (around 560 million euros) worldwide. In particular, this concerns search engines, social media and online merchants. The Ministry of Finance expects to receive 400 million pounds sterling (just under 450 million euros) a year.
US taxpayers are likely to be affected by the new tax, the plans of US President Donald Trump may not please. The EU is also discussing a digital tax. By way of protest, however, Republicans and American Democrats were in agreement: this decision discriminates against American companies, wrote to politicians on both sides in a joint open letter.
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