Donate to Remove ads

Got a credit card? use our Credit Card & Finance Calculators

Thanks to johnstevens77,Bhoddhisatva,scotia,Anonymous,Cornytiv34, for Donating to support the site

UK bows to US pressure to drop 'Facebook' tax

The Big Picture Place
ursaminortaur
Lemon Half
Posts: 6942
Joined: November 4th, 2016, 3:26 pm
Has thanked: 447 times
Been thanked: 1717 times

UK bows to US pressure to drop 'Facebook' tax

#335249

Postby ursaminortaur » August 23rd, 2020, 12:58 pm

Following pressure from the US the UK is now planning to drop the 'Facebook' tax.

https://www.theguardian.com/business/2020/aug/23/uk-to-drop-facebook-tax-covid-in-favour-of-post-brexit-trade-deal

The UK government is preparing to drop a recently introduced tax on global technology companies such as Facebook, Google and Amazon, due to fears that the so-called “Facebook tax” could jeopardise a post-Brexit trade deal.

Rishi Sunak is reportedly planning to ditch the digital services tax which was expected to generate about £500m to help pay towards the huge cost of the government’s response to the coronavirus pandemic.

The chancellor, who announced the tax in the budget in March, had said big global technology firms must “pay their fair share of tax”. However, the Mail on Sunday reported that Sunak is preparing to drop the tax following pressure from US companies and politicians.

odysseus2000
Lemon Half
Posts: 6358
Joined: November 8th, 2016, 11:33 pm
Has thanked: 1527 times
Been thanked: 958 times

Re: UK bows to US pressure to drop 'Facebook' tax

#335271

Postby odysseus2000 » August 23rd, 2020, 2:56 pm

ursaminortaur wrote:Following pressure from the US the UK is now planning to drop the 'Facebook' tax.

https://www.theguardian.com/business/2020/aug/23/uk-to-drop-facebook-tax-covid-in-favour-of-post-brexit-trade-deal

The UK government is preparing to drop a recently introduced tax on global technology companies such as Facebook, Google and Amazon, due to fears that the so-called “Facebook tax” could jeopardise a post-Brexit trade deal.

Rishi Sunak is reportedly planning to ditch the digital services tax which was expected to generate about £500m to help pay towards the huge cost of the government’s response to the coronavirus pandemic.

The chancellor, who announced the tax in the budget in March, had said big global technology firms must “pay their fair share of tax”. However, the Mail on Sunday reported that Sunak is preparing to drop the tax following pressure from US companies and politicians.


Don't worry the treasury will find new ways to tax!

A daft tax anyway, given the amount of business opportunities for may small business that Facebook Google and Amazon enable.

Regards,

dspp
Lemon Half
Posts: 5884
Joined: November 4th, 2016, 10:53 am
Has thanked: 5825 times
Been thanked: 2127 times

Re: UK bows to US pressure to drop 'Facebook' tax

#335407

Postby dspp » August 24th, 2020, 9:31 am

ursaminortaur wrote:Following pressure from the US the UK is now planning to drop the 'Facebook' tax.

https://www.theguardian.com/business/2020/aug/23/uk-to-drop-facebook-tax-covid-in-favour-of-post-brexit-trade-deal

The UK government is preparing to drop a recently introduced tax on global technology companies such as Facebook, Google and Amazon, due to fears that the so-called “Facebook tax” could jeopardise a post-Brexit trade deal.

Rishi Sunak is reportedly planning to ditch the digital services tax which was expected to generate about £500m to help pay towards the huge cost of the government’s response to the coronavirus pandemic.

The chancellor, who announced the tax in the budget in March, had said big global technology firms must “pay their fair share of tax”. However, the Mail on Sunday reported that Sunak is preparing to drop the tax following pressure from US companies and politicians.


So much for sovereign power eh.

- dspp

odysseus2000
Lemon Half
Posts: 6358
Joined: November 8th, 2016, 11:33 pm
Has thanked: 1527 times
Been thanked: 958 times

Re: UK bows to US pressure to drop 'Facebook' tax

#335417

Postby odysseus2000 » August 24th, 2020, 9:51 am

So much for sovereign power eh.

- dspp


As I understand it sovereign powers does not have any relation to whether decisions are good or bad, it just means that at every election people have the opportunity to vote out the folk who have been making decisions, a situation that does not exist in such a clear manner for a member state of the EU.

Of course this does all rely on having political parties that are functional and which want to win and put the issues they feel are important before the voters giving them a clear choice. One can't indite sovereignty if one of more political parties don't want to act in democratic ways.

In this case the original tax looked like a bad idea and was killed, again something that would be far more difficult for a member state of the EU.

The ability to make decisions and change them over seen only by parliament and every election by voters is one argument for having a sovereign state.

Meanwhile the folk who have lobbied for the killing of this tax are likely about to receive little windfalls that perhaps they might spend in the UK making some work for someone.

Regards,


Return to “Macro and Global Topics”

Who is online

Users browsing this forum: No registered users and 9 guests