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UK to charge a 20% tax on companies' earnings held offshore from April 2019
- tareqak 9y agoOriginal title: Philip Hammond just declared war on tech firms like Amazon and Apple that avoid UK tax Techmeme summary: Shona Ghosh / Business Insider: UK government says it'll charge a 20% tax on companies' earnings that are held offshore from April 2019, a move widely seen to be aimed at tech companies
- gnarbarian 9y agothis is only for income earned IN the UK right?
- tareqak 9y agoSeems like it. From the article: "Multinational digital businesses pay billions of pounds in royalties to jurisdictions where they are not taxed. And some of these royalties relate to UK sales. "So from April 2019, and in accordance with our international obligations, we will apply income tax to royalties relating to UK sales, when those royalties are paid to a low tax jurisdiction."
- basicplus2 9y agoI think its time to simply charge a flat tax rate on gross income on all large companies
- drpgq 9y agoSo would this encourage Amazon or Apple or whoever to do more research and development in the UK?