Budget 2018: Hammond targets tech giants with digital services tax
Expects to raise £400m a year
The Budget document revealed an additional £500m for government departments as part of preparations to exit the EU
Chancellor Philip Hammond has launched an attack on tech giants such as Amazon and Google by announcing a 2% UK Digital Services tax from 2020.
In today's Budget, Hammond said digital tech giants will be taxed 2% on the money they make from UK users. It is expected this will raise £400m per year, some £1.5bn over four years. Subject to consultation,...
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