UK tech tax comes into force

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Tech tax comes into force The UK’s digital services tax has come into force, with the levy to apply to revenues generated by social networks, search engines and online marketplaces. The 2% tax, which affects profitable companies which generate more than £500m a year in global revenues, will apply to any revenues generated through advertising to British users or revenues made through facilitating transactions. Firms liable for the levy will not need to make any payments until 2021, with the Treasury recently telling companies that it does not anticipate any to need to register and pay the tax "for some time".

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