UK Chancellor Rachel Reeves indicated that discussions are underway regarding potential changes to the Digital Services Tax (DST) that targets major tech firms. The aim of these changes is to negotiate with the US, which has imposed tariffs threatening UK exporters. The current 2% DST provides about £800 million annually, and Reeves advocated for the principle that companies operating in the UK should pay taxes locally. Critics, including the Liberal Democrats, warned that negotiating tax changes could erode Labour's moral integrity.
The UK is in discussions about altering the Digital Services Tax to prevent additional import tariffs from the US government, prioritizing free trade.
Chancellor Rachel Reeves emphasized the need for balance in tax discussions, indicating ongoing talks with the US to avoid further tariffs affecting British exporters.
Critics argue that Labour risks compromising its values by negotiating on tech taxes in exchange for tariff concessions from the US.
Reeves expressed commitment to ensuring that companies operating in the UK fulfill their tax obligations while navigating complex trade negotiations with the US.
Collection
[
|
...
]