
UK to charge a 20% tax on companies' earnings held offshore from April 2019 - tareqak
http://www.businessinsider.com/treasury-to-tax-uk-generated-revenue-held-offshore-by-tech-firms-such-as-amazon-and-apple-2017-11?op=1
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tareqak
Original title: _Philip Hammond just declared war on tech firms like Amazon
and Apple that avoid UK tax_

Techmeme summary: _Shona Ghosh / Business Insider: UK government says it'll
charge a 20% tax on companies' earnings that are held offshore from April
2019, a move widely seen to be aimed at tech companies_

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gnarbarian
this is only for income earned IN the UK right?

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tareqak
Seems like it. From the article:

 _" Multinational digital businesses pay billions of pounds in royalties to
jurisdictions where they are not taxed. And some of these royalties relate to
UK sales._

 _" So from April 2019, and in accordance with our international obligations,
we will apply income tax to royalties relating to UK sales, when those
royalties are paid to a low tax jurisdiction."_

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drpgq
So would this encourage Amazon or Apple or whoever to do more research and
development in the UK?

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basicplus2
I think its time to simply charge a flat tax rate on gross income on all large
companies

