snoop1130 Posted January 23, 2020 Share Posted January 23, 2020 Britain to United States: We want a trade deal and a digital tax FILE PHOTO: Britain's Business, Energy and Industrial Strategy Secretary Andrea Leadsom is seen outside 10 Downing Street London, Britain, January 21, 2020. REUTERS/Henry Nicholls LONDON (Reuters) - Britain wants a trade deal with the United States but will impose a digital service tax on the revenue of companies such as Google, Facebook and Amazon, business minister Andrea Leadsom said on Thursday. “The United States and the United Kingdom are committed to entering into a trade deal with each other and we have a very strong relationship that goes back centuries so some of the disagreements that we might have over particular issues don’t in any way damage the excellent and strong and deep relationship between the U.S. and the UK,” Leadsom told Talk Radio. “There are always tough negotiations and tough talk but I think where the tech tax is concerned it’s absolutely vital that these huge multinationals who are making incredible amounts of income and profit should be taxed and what we want to do is to work internationally with the rest of the world to cover with a proper regime that ensures that they’re paying their fair share.” Under the British plan, tech companies that generate at least 500 million pounds ($657 million) a year in global revenue will pay a levy of 2% of the money they make from UK users from April 2020. -- © Copyright Reuters 2020-01-23 Follow Thaivisa on LINE for breaking Thailand news and visa info 1 Link to comment Share on other sites More sharing options...
TheDark Posted January 23, 2020 Share Posted January 23, 2020 10 minutes ago, snoop1130 said: Under the British plan, tech companies that generate at least 500 million pounds ($657 million) a year in global revenue will pay a levy of 2% of the money they make from UK users from April 2020. That sounds quite moderate taxation demand when starting the negotiations. Perhaps UK can increase it after some initial period? 2 Link to comment Share on other sites More sharing options...
Popular Post simple1 Posted January 23, 2020 Popular Post Share Posted January 23, 2020 The US treasury secretary, Steven Mnuchin, said the government’s proposed digital services tax discriminated against US multinationals and warned there would be retaliation – probably a tax on UK car exports to the US – if the 2% levy were imposed in April. https://www.theguardian.com/business/2020/jan/22/uk-to-impose-tax-on-tech-giants-but-risks-us-tariffs-on-car-exports 2 1 2 3 Link to comment Share on other sites More sharing options...
Popular Post Andrew65 Posted January 23, 2020 Popular Post Share Posted January 23, 2020 17 minutes ago, TheDark said: That sounds quite moderate taxation demand when starting the negotiations. Perhaps UK can increase it after some initial period? Apple manage to pay about 1% in Ireland when the rate is supposed to be 12.5%. Once the UK accountants get to work, 2% will be 0% 10 1 Link to comment Share on other sites More sharing options...
Popular Post tomacht8 Posted January 23, 2020 Popular Post Share Posted January 23, 2020 It is obvious that trade deals are not as easy as some believe here. But in the end, the UK's stance corresponds to the EU. The EU also plans to introduce a digital tax on the avoid tax, - shift tax stations from the big US IT giants. 4 Link to comment Share on other sites More sharing options...
Popular Post Loiner Posted January 23, 2020 Popular Post Share Posted January 23, 2020 2 hours ago, snoop1130 said: huge multinationals who are making incredible amounts of income and profit should be taxed Of course they should be taxed. They have gotten away with it for so long. Although it would marginally affect (foreign) big business, it a sure fire Tory vote winner. Let the negotiations begin. 3 Link to comment Share on other sites More sharing options...
Popular Post Chomper Higgot Posted January 23, 2020 Popular Post Share Posted January 23, 2020 2 hours ago, simple1 said: The US treasury secretary, Steven Mnuchin, said the government’s proposed digital services tax discriminated against US multinationals and warned there would be retaliation – probably a tax on UK car exports to the US – if the 2% levy were imposed in April. https://www.theguardian.com/business/2020/jan/22/uk-to-impose-tax-on-tech-giants-but-risks-us-tariffs-on-car-exports Britain’s new sovereignty, UK tax laws dictated by Washington. 8 1 3 Link to comment Share on other sites More sharing options...
gk10002000 Posted January 23, 2020 Share Posted January 23, 2020 ha so the Brits may get some tax revenue from those companies, but the USA, the country from which those companies are exploiting huge tax loop hole in US corporate tax law won't get any tax revenue. Link to comment Share on other sites More sharing options...
Popular Post david555 Posted January 23, 2020 Popular Post Share Posted January 23, 2020 Does the USA don't knows , that they need the U.K. more than the U.K. need the USA ….????.....(history is repeating ...) 2 2 1 7 Link to comment Share on other sites More sharing options...
Popular Post GinBoy2 Posted January 23, 2020 Popular Post Share Posted January 23, 2020 17 minutes ago, david555 said: Does the USA don't knows , that they need the U.K. more than the U.K. need the USA ….????.....(history is repeating ...) How exactly does that work? A trade market of 60M, and a military which has been cut to the bone and barely functional. What again does the US need the UK for? 8 2 Link to comment Share on other sites More sharing options...
Popular Post TheDark Posted January 23, 2020 Popular Post Share Posted January 23, 2020 3 minutes ago, GinBoy2 said: How exactly does that work? A trade market of 60M, and a military which has been cut to the bone and barely functional. What again does the US need the UK for? Access and influence to European markets? 6 Link to comment Share on other sites More sharing options...
Popular Post david555 Posted January 23, 2020 Popular Post Share Posted January 23, 2020 (edited) 7 minutes ago, GinBoy2 said: How exactly does that work? A trade market of 60M, and a military which has been cut to the bone and barely functional. What again does the US need the UK for? Just repeating what they thought about the E.U. needing them more ,....than U.K. needing the E.U. ….hence the negotiations , is their motto , you don't know them ???? Edited January 23, 2020 by david555 4 Link to comment Share on other sites More sharing options...
Popular Post GinBoy2 Posted January 23, 2020 Popular Post Share Posted January 23, 2020 2 minutes ago, TheDark said: Access and influence to European markets? Aren't you about to leave the EU in weeks time? I would suggest that access and influence evaporate next week! 6 3 Link to comment Share on other sites More sharing options...
GinBoy2 Posted January 23, 2020 Share Posted January 23, 2020 4 minutes ago, david555 said: Just repeating what they thought about the E.U. needing them more ,....than U.K. needing the E.U. ….hence the negotiations , is their motto , you don't know them ???? Now I understand 1 Link to comment Share on other sites More sharing options...
BigFun Posted January 24, 2020 Share Posted January 24, 2020 7 hours ago, david555 said: Does the USA don't knows , that they need the U.K. more than the U.K. need the USA ….????.....(history is repeating ...) Spoken like a true Brexiter/special relationship believer ???? I think France had a special relationship when they helped the US kick the Brits out too...would the Donald have seen that as an unfair asset/investment grab? ???? 1 Link to comment Share on other sites More sharing options...
beavenlen Posted January 24, 2020 Share Posted January 24, 2020 does nobody remember the days before entry into europe? what has britain gained from europe,before we traded worldwide and had some good deals. the americans,what have they given us,except a tremendous assistance in ww2,a debt i would have imagined should long have been repaid and bases removed from british soil. and yes i have had my own private brexit thank f---. 1 Link to comment Share on other sites More sharing options...
PhonThong Posted January 24, 2020 Share Posted January 24, 2020 17 hours ago, snoop1130 said: LONDON (Reuters) - Britain wants a trade deal with the United States but will impose a digital service tax on the revenue of companies such as Google, Facebook and Amazon, business minister Andrea Leadsom said on Thursday. So London wants? Great way to start out by threatening to tax U.S. companies. I say, let them squirm for a while. The E.U. is still a major trading partner for the U.S.. 1 Link to comment Share on other sites More sharing options...
evadgib Posted January 24, 2020 Share Posted January 24, 2020 No amount of noise from the rhubarb brigade can stop the clock from ticking ???? 1 Link to comment Share on other sites More sharing options...
Popular Post Chomper Higgot Posted January 24, 2020 Popular Post Share Posted January 24, 2020 41 minutes ago, evadgib said: No amount of noise from the rhubarb brigade can stop the clock from ticking ???? Nor can any prevent the consequences, in this case the US will dictate UK tax policy wrt US companies. The US Pharma lobby will dictate the prices the UK will pay for medicines ( I’ll refer you to US insulin prices as a portent of what the UK will face). And the US agricultural lobby will dictate the terms that will decimate British farming. 2 1 5 Link to comment Share on other sites More sharing options...
david555 Posted January 24, 2020 Share Posted January 24, 2020 58 minutes ago, evadgib said: No amount of noise from the rhubarb brigade can stop the clock from ticking ???? Neighter it stops WTO rules coming closer....???? Link to comment Share on other sites More sharing options...
david555 Posted January 24, 2020 Share Posted January 24, 2020 (edited) 1 hour ago, PhonThong said: So London wants? Great way to start out by threatening to tax U.S. companies. I say, let them squirm for a while. The E.U. is still a major trading partner for the U.S.. So London "wants "...( once more..) "their cake and eat it" which E.U. could give if only they would accept the terms for it... So now they try it to play on ....the real mumber 1 from western world ....hilarious....???? Edited January 24, 2020 by david555 1 Link to comment Share on other sites More sharing options...
Chazar Posted January 24, 2020 Share Posted January 24, 2020 11 hours ago, GinBoy2 said: How exactly does that work? A trade market of 60M, and a military which has been cut to the bone and barely functional. What again does the US need the UK for? Uk invents the most things 1 1 Link to comment Share on other sites More sharing options...
Popular Post ThomasThBKK Posted January 24, 2020 Popular Post Share Posted January 24, 2020 3 hours ago, beavenlen said: does nobody remember the days before entry into europe? what has britain gained from europe,before we traded worldwide and had some good deals. the americans,what have they given us,except a tremendous assistance in ww2,a debt i would have imagined should long have been repaid and bases removed from british soil. and yes i have had my own private brexit thank f---. A 12.5X increase in GDP per capita. They were the sick man of the EU when they joined: https://www.economist.com/buttonwoods-notebook/2017/07/19/britain-back-to-being-the-sick-man-of-europe Will not fit anyones narrative here tho, i guess. 3 1 Link to comment Share on other sites More sharing options...
bristolboy Posted January 24, 2020 Share Posted January 24, 2020 Not like the USA has much success against its own tech giants: The IRS Decided to Get Tough Against Microsoft. Microsoft Got Tougher. For years, the company has moved billions in profits to Puerto Rico to avoid taxes. When the IRS pushed it to pay, Microsoft protested that the agency wasn’t being nice. Then it aggressively fought back in court, lobbied Congress and changed the law. https://www.propublica.org/article/the-irs-decided-to-get-tough-against-microsoft-microsoft-got-tougher 1 Link to comment Share on other sites More sharing options...
Andrew65 Posted January 24, 2020 Share Posted January 24, 2020 17 hours ago, Loiner said: Of course they should be taxed. They have gotten away with it for so long. Although it would marginally affect (foreign) big business, it a sure fire Tory vote winner. Let the negotiations begin. ....Tory vote winner. You've gotta be kiddin' me!???? 1 Link to comment Share on other sites More sharing options...
Popular Post Nigel Garvie Posted January 24, 2020 Popular Post Share Posted January 24, 2020 1 hour ago, Chomper Higgot said: Nor can any prevent the consequences, in this case the US will dictate UK tax policy wrt US companies. The US Pharma lobby will dictate the prices the UK will pay for medicines ( I’ll refer you to US insulin prices as a portent of what the UK will face). And the US agricultural lobby will dictate the terms that will decimate British farming. Exactly, rarely in the field of human endeavour have any group of people so effectively shafted the future of their own economy. The US is laughing at us. I have falang friends here from all over the world, they are laughing also, many of them more in pity than in disdain, which at least is considerate of them. You will note that the threat to tax multinationals has been put on the table by the brave bold Boris. Unfortunately he was not quite so brave and bold when it came to curbing the UK tax avoidance schemes by his own rich friends, but then which Tory would care to offend the owners of the gutter press. Never fear we "Got your country back" and we "Took back control" pity we turned it into an economic basket case in the process. 3 1 2 Link to comment Share on other sites More sharing options...
simple1 Posted January 24, 2020 Share Posted January 24, 2020 (edited) 3 hours ago, PhonThong said: So London wants? Great way to start out by threatening to tax U.S. companies. I say, let them squirm for a while. The E.U. is still a major trading partner for the U.S.. Are you trying to claim UK digital services companies never pay federal taxes in the US? Edited January 24, 2020 by simple1 1 Link to comment Share on other sites More sharing options...
Popular Post evadgib Posted January 24, 2020 Popular Post Share Posted January 24, 2020 2 hours ago, Chomper Higgot said: Nor can any prevent the consequences, in this case the US will dictate UK tax policy wrt US companies. The US Pharma lobby will dictate the prices the UK will pay for medicines ( I’ll refer you to US insulin prices as a portent of what the UK will face). And the US agricultural lobby will dictate the terms that will decimate British farming. Given your track record re predictions this has made my day ???? 3 Link to comment Share on other sites More sharing options...
Thongkorn Posted January 24, 2020 Share Posted January 24, 2020 13 hours ago, GinBoy2 said: How exactly does that work? A trade market of 60M, and a military which has been cut to the bone and barely functional. What again does the US need the UK for? America's first line of defence for one Link to comment Share on other sites More sharing options...
rickudon Posted January 24, 2020 Share Posted January 24, 2020 5 hours ago, Thongkorn said: America's first line of defence for one Yes, I am so happy that in the case of a USA/Russia war, My country will become a scorched battleground while the USA public watches from their sofas and nibble popcorn ....... 2 1 Link to comment Share on other sites More sharing options...
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