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Showing results for tags 'digital services tax'.
Chancellor Phillip Hammond targets tax avoidance by large tech firms in the Budget. Technology giants will have to pay more tax in the UK under new regulations unveiled by the Government today. In his Budget statement this afternoon, Chancellor Phillip Hammond revealed a two percent "digital services tax" on large tech firms such as Amazon, Facebook and Google. From April 2020, large social media platforms, search engines and online marketplaces will pay a 2 percent tax on the revenues they earn which are linked to UK users. The tax f