United Kingdom: Digital service tax in Finance Bill 2020
Progress
Scope
Timeline of events
Announced phase-out of DST in light of OECD/G20 multinational tax agreement
On 21 October 2021, the British Treasury announced a route for the repeal of the Digital Service Tax (DST). In light of the OECD-led negotiations on a global tax system and an agreement with the US and other European governments, the Treasury intend…
SourceRetroactive implementation of digital service tax for certain companies
The British parliament retroactively adopted the digital services tax of 2% on revenue generated through "digital services activities" attributable to a UK user. The tax is imposed on companies reaching certain global and domestic revenue thresholds…
SourceAnnouncement of digital service tax
The Chancellor of the Exchequer announced the introduction of a digital service tax. The tax will be applied to companies with global revenue of over 500 million GPB and are profitable. The target will be specific digital platform business models. T…
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