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Britain to United States: We want a trade deal and a digital tax

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Britain to United States: We want a trade deal and a digital tax

 

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FILE PHOTO: Britain's Business, Energy and Industrial Strategy Secretary Andrea Leadsom is seen outside 10 Downing Street London, Britain, January 21, 2020. REUTERS/Henry Nicholls

 

LONDON (Reuters) - Britain wants a trade deal with the United States but will impose a digital service tax on the revenue of companies such as Google, Facebook and Amazon, business minister Andrea Leadsom said on Thursday.

 

“The United States and the United Kingdom are committed to entering into a trade deal with each other and we have a very strong relationship that goes back centuries so some of the disagreements that we might have over particular issues don’t in any way damage the excellent and strong and deep relationship between the U.S. and the UK,” Leadsom told Talk Radio.

 

“There are always tough negotiations and tough talk but I think where the tech tax is concerned it’s absolutely vital that these huge multinationals who are making incredible amounts of income and profit should be taxed and what we want to do is to work internationally with the rest of the world to cover with a proper regime that ensures that they’re paying their fair share.”

 

Under the British plan, tech companies that generate at least 500 million pounds ($657 million) a year in global revenue will pay a levy of 2% of the money they make from UK users from April 2020.

 

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-- © Copyright Reuters 2020-01-23
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10 minutes ago, snoop1130 said:

Under the British plan, tech companies that generate at least 500 million pounds ($657 million) a year in global revenue will pay a levy of 2% of the money they make from UK users from April 2020.

That sounds quite moderate taxation demand when starting the negotiations. Perhaps UK can increase it after some initial period?

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ha so the Brits may get some tax revenue from those companies, but the USA, the country from which those companies are exploiting huge tax loop hole in US corporate tax law won't get any tax revenue.

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4 minutes ago, david555 said:

Just repeating what they thought about the E.U. needing them more ,....than U.K. needing the E.U. ….hence the negotiations , is their motto , you don't know them 🤣

Now I understand

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7 hours ago, david555 said:

Does the USA don't  knows , that they need the U.K. more than the U.K. need the USA ….🤣.....(history is repeating ...) 

Spoken like a true Brexiter/special relationship believer 😃 I think France had a special relationship when they helped the US kick the Brits out too...would the Donald have seen that as an unfair asset/investment grab? 🤔

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