Treasury denies it plans to drop 'Facebook tax' in favour of trade deal
by Rupert Neate from on (#577NR)
Newly introduced tax expected to raise 500m, helping to reduce Britain's huge Covid bill
The UK government has denied reports that it is to drop a recently introduced levy on global technology companies such as Facebook, Google and Amazon due to fears the so-called Facebook tax" could jeopardise a post-Brexit trade deal.
The Treasury said on Sunday it would drop the digital services tax when there was a global agreement on how to tax big multinational tech firms, which pay very little tax in the UK and other countries where they operate.
Continue reading...