Britain introduced the digital services tax in April after slow progress in global negotiations over how to tax tech giants, many of which are US companies. — Reuters pic
LONDON, Aug 24 — British finance minister Rishi Sunak plans to drop a tax on technology companies such as Facebook and Google because it does not raise much money and could hurt a push for a US trade deal, theBritain introduced the digital services tax in April after slow progress in global negotiations over how to tax tech giants, many of which are US companies.
The tax is also a potential impediment to a post-Brexit bilateral trade deal between Britain and the United States.No one was immediately available for comment at Britain’s finance ministry.quoted a finance ministry representative as saying: “We’ve been clear it’s a temporary tax that will be removed once an appropriate global solution is in place, and we continue to work with our international partners to reach that goal.
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