Spring Statement 2018- PwC comments on the Government inching towards another new tax on digital business

Mar 13, 2018

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Commenting on the taxation of digital businesses, Stella Amiss, head of tax policy at PwC, said:

 

“The Government is inching towards introducing yet another new tax on digital business. While not being drawn on a final position, the Chancellor has published their current thinking, fuelled by a concern that maintaining the status quo will further undermine trust in the corporate tax system.

 

“On the one hand the Government says international agreement is essential, but the raft of options published today suggest there is a way to go if the government is to avoid confusion, double taxation and undermining the Chancellor's ambition to deliver an open and outward looking economy.

 

“The Chancellor has reiterated that a short-term measure, likely to be tax on revenues, will be needed pending an agreement on the long-term solution.”

 

Ends

 

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