The global hunt to tax Big Tech

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The global hunt to tax Big Tech[size=0.8em]By Andrew Hill, Mehreen Khan,Richard Waters in London, in Brussels, in San Francisco
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Philip Hammond, a man so detail-focused as to have earned the nickname “spreadsheet Phil”, looks an unlikely warrior in the latest “tech-lash”.

But this week the UK’s chancellor of the exchequer joined the vanguard of finance ministers fighting back against tax arbitrage by the world’s largest technology companies. In his annual Budget, he proposed to make “global giants with profitable businesses in the UK pay their fair share” through a “digital services tax” on revenues, which could come into force in 2020.

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