'The Chancellor launched a new tax crackdown on firms moving cash overseas today, unveiling new rules on internet giants and multinationals.
Philip Hammond said he would extend the so-called 'Google tax' to cover new tactics employed by search giants to shield revenue made from UK users.
The rules could extend to multinational firms like McDonalds and Burger King as profits are moved around the world to reduce tax bills.
The new change will mean Britain can collect revenues on activity carried out in the UK even if they are redirected via a third country and not just straight to a tax haven.
Other reforms will mean online marketplaces such as Amazon and eBay are held responsible for paying VAT when sellers on the platforms do not collect and pay the tax.
Treasury sources hailed the 'innovative and novel' change, designed to tackle a new tactic employed by internet firms to add an extra leg to redirecting activity off shore.
They said it would help address growing public concern in the aftermath of the leak of the Paradise Papers revealing mass offshore tax avoidance by the rich and famous.'
Read more: Hammond launches £800million tax crackdown on multinational firms making money in the UK and then shovelling the cash overseas with new rules aimed at Google, McDonald's, eBay and Amazon
Did you like this article?
Thank you for your vote!
5 August 2018
Amazon is handed more money by the UK Government than it is paying in taxes - and online retailer could make £50million from public sector this
Near-Lowest Ever US Corporate Taxes: Great Wealth Transfer Heist from Ordinary Americans to Corporate Billionaires
26 July 2018
'Poverty Is Criminalized, Wealth Is Immunized': Report Shows Corporate Crime Enforcement Has Plummeted Under Trump
From our advertisers
The Flower Power 'Revolution' - A Lesson in Naivety That Must Be Learned Today - The David Icke Dot-Connector Videocast
9 hours ago
More than 80 UK minority and ethnic groups slam Israel attempts to silence discourse on Palestine through ridiculous and outrageous 'anti-Semitism' definition
8 hours ago
‘Iran Action Group’ a new US tool of regime change, but Tehran’s resilience is ‘strong’ – researcher
6 hours ago
‘Democracy Dies in Darkness’: Washington Post Makes Case for Google’s Chinese Censorship
From our advertisers