Ann McGauran 29 October 2018

Budget 2018: Google and Amazon to be hit by new tax

Budget 2018: Google and Amazon to be hit by new tax image

A new UK digital services tax aimed at giants such as Google and Amazon will be narrowly targeted on UK-generated revenues from April 2020.

Chancellor Philip Hammond said in the Budget the established tech giants will bear the burden of the tax, which is expected to raise £400m a year and will only be paid by companies with sales of at least £500m a  year in global revenues.

The chancellor said progress on a new global agreement was the ‘best solution but progress is painfully slow’ and the Government would continue to work with the Organisation for Economic Co-operation and Development (OECD) to seek a global solution.

 It was ‘only right that the global giants paid their fair share towards our public services’, he added.

Overcoming the barriers to Commercial Card use image

Overcoming the barriers to Commercial Card use

Want to reap the benefits of Commercial Cards but coming up against some challenges? James Sykes, Head of Commercial Cards, Lloyds Bank and David Legg, Head of Corporate Card Products, Lloyds Bank, discuss how the payments industry is helping organisations unlock their true value.
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