Technology giants will benefit from an effective “tax cut” in the UK if a global overhaul of corporation tax goes ahead as expected and replaces the existing digital services tax, according to a...
The changes to global taxation agreed by G7 finance ministers could see the UK’s receipts from digital firms reduce by more than £230m, according to tax experts.
Ahead of next week's G7 summit, Alex Dunnagan, researcher at Taxwatch, outlines the potential prize from an agreement on a minimum corporation tax rate.
The UK Treasury has denied reports that it is to drop the recently-implemented digital services tax amid fears it could jeopardise a post-Brexit trade deal.
The jury is still out on whether OECD talks will succeed in introducing a global digital tax for multinational firms such as Google, Apple, Facebook and Amazon.
The government risks retaliation from the US after confirming it will go ahead with its planned tax on internet giants such as Facebook and Google from April.
