The chancellor, Sajid Javid, has insisted that the UK will go ahead with plans for a tax on giant tech companies this spring despite intensifying pressure from the US to drop the idea.
The US treasury secretary, Steven Mnuchin, said the proposed digital services tax discriminated against US multinationals and there would be retaliation – probably a tax on UK car exports to the US – if the 2% levy were imposed in April.
Speaking on a panel in Davos that included Mnuchin and the head of the International Monetary Fund, Kristalina Georgieva, Javid said: “We plan to go ahead with our digital services tax in April.
[…]
Source: UK to press ahead with digital tax despite US pressure, Javid insists | Business | The Guardian