t means UK will be able to capture billions of pounds in taxes from tech giantsBritain and the rest of the world’s largest nations are on the brink of agreeing to the biggest global tax reforms for a century. It means the UK will be able to capture billions of pounds in taxes from technology giants and other big companies which shift profits around the world. The central pillar of the deal will force companies to pay tax in the countries where their consumers spend their money, rather than shift them overseas. The Treasury said: ‘It matters where tax is paid and any agreement must ensure digital businesses pay tax in the UK that reflects their economic activities. Ireland, which has created thousands of jobs with its low tax regime, said he had ‘significant concerns’ about the plans.

Source: Daily Mail May 28, 2021 00:25 UTC