Head of International Tax and Tax Policy at KPMG in the UK, Melissa Geiger comments on the Spring statement.
Melissa Geiger, Head of International Tax and Tax Policy, KPMG UK said:
“As expected there were no major tax announcements in the Spring Statement, the Chancellor preferring to keep his head under cover amid the Brexit storm clouds.
“Some were holding their breath for an announcement on the UK’s Digital Services Tax, there were even rumours that we might see a delay. Instead the Chancellor used his speech to reiterate the need for tech giants to pay their fair share of tax. No deferral looks likely and the accompanying Written Ministerial Statement refers to a consultation on the detailed design and implementation.
“This will be a disappointment to business who are concerned at the UK going it alone with a unilateral measure when the general consensus is that an international solution is needed.
“It is perhaps ironic that at the exact same time the Chancellor reiterated his intention to continue with a unilateral UK Digital Services Tax, representatives from around the world are also meeting in Paris as part of the OECD’s work to try to flesh out the urgently needed global solution.”
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