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UK considers revenue tax on tech giants

Mar, 13, 2023 Hi-network.com
The British government has announced that it is considering taxing the revenues of Internet companies, at least until international tax regulation is updated that can tackle tax avoidance by the tech sector. UK finance minister, Philip Hammond, said that he will present a proposal for new tax rules at a G20 meeting. The UK government said it prefers an international tax framework, but is aware of the challenge of achieving consensus and creating proposals, and 'in the absence of such reform, there is a need to consider interim measures such as revenue-based taxes'.

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