New tech digital service tax brought in 360 million pounds in revenue to the UK government
New tech digital service tax brought in £360 million in revenue. Tech giants - such as Amazon, Google and Apple - have contributed 30 per cent more into the UK Treasury than expected by the law, which was brought in April 2020, via the new rules than via corporation tax. The law requires a two per cent charge on all gross sales made by digital companies offering search engines, social media, and online marketplaces. The UK government - who expects the law to contribute more than £3 billion to the public purse by 2024 to 2025 - exceeded their 2020-21 revenue target of £275 million through the o...