Tim Sarson (KPMG) provides your monthly update on international tax.
Taxation of the digital economy continues to dominate international tax news. This month we have confirmation of the previously announced French tax on tech giants and more interestingly the Trump administration’s immediate and retaliatory response. No longer only tax news the actions threatened by the US have the potential to ramp up into a full blown trade war with one of its previously strong trading partners. There is also the release of the draft UK digital services tax legislation which throws the tax net more closely than France highlighting the issues that can arise from taking unilateral action to tackle an international problem.
Digital services taxes
In my May update I mentioned the proposed 3% tax on the revenue of large digital companies that earn more than €750m in global digital revenue and...
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Tim Sarson (KPMG) provides your monthly update on international tax.
Taxation of the digital economy continues to dominate international tax news. This month we have confirmation of the previously announced French tax on tech giants and more interestingly the Trump administration’s immediate and retaliatory response. No longer only tax news the actions threatened by the US have the potential to ramp up into a full blown trade war with one of its previously strong trading partners. There is also the release of the draft UK digital services tax legislation which throws the tax net more closely than France highlighting the issues that can arise from taking unilateral action to tackle an international problem.
Digital services taxes
In my May update I mentioned the proposed 3% tax on the revenue of large digital companies that earn more than €750m in global digital revenue and...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
