United Kingdom edges closer to enacted digital tax legislation

As detailed by KPMG UK’s Matthew Herrington, a Bill proposes a two percent tax on revenue on certain digital income streams connected to UK users.

The United Kingdom (UK) has edged one step closer to enacting its digital services tax (DST) legislation, with the House of Commons passing the Finance Bill 2020 on 2 July 2020.Despite the UK’s DST provisions commencing on 1 April 2020, the legislation bringing the rules into effect is still making its way through Parliament.Having passed through the House of Commons, the next steps for Finance Bill 2020 are the second reading and remaining stages in the House of Lords, scheduled for 17 July ...

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Authors: Matthew Herrington

Published Date: 14 July 2020