UK government floats Digital Services Tax plan, pointing way for an Australian online platforms levy
The UK government has announced in its 2018 Budget plans to introduce a Digital Services Tax, aimed at making the global tech giants pay their share of national taxes.
Britain’s move, which the UK Chancellor expects will raise over £400m per year once it is fully operational, comes as the Australian government mulls over the options for taxing the online giants and the ACCC continues its review of digital platforms.
Philip Hammond, UK Chancellor of the Exchequer, said the DST would ensure global tech giants paid their fair share of national taxes
Chancellor of the Exchequer, Philip Hammond, told Parliament: “It is only right that these global giants, with profitable businesses in the UK, pay their fair share towards supporting our public services.”
Making the world a better place by setting up complex offshore tax structures to avoid paying tax that would go to schools and hospitals.
This cannot come soon enough.