The United Kingdom Introduces Digitaks for Tech Companies. The United Kingdom is one of the leading advanced countries in the world with a brand-new tax on digital services.
The Digitaks only concerns to tech monsters of the format of Facebook and Google. The British finance minister Philip Hammond declared the proposal.
The brand-new tax should commence in 2020 and generate GBP 400 million yearly. Small businesses and start-ups are excluded from tax so that the business climate for such organisations is not affected.
Various countries have been considering for some time about ways in which revenue from international digital services can end up in the state where services are used.
Hammond alluded to a British initiative first when a European resolution would take too long.