Will a Digital Tax Sweep Across the World?

Philip Hammond, UK Chancellor, announced plans to tax tech giants with over £500 million in global revenue, aiming to raise £400 million. This move follows stalled EU efforts due to opposition from countries like the Czech Republic. Industry groups in the UK oppose the unilateral approach, urging coordination with the US and EU. Despite no comments from major tech firms, their share prices fell. Google and Amazon's tax practices highlight discrepancies, sparking interest in similar taxes in Asia and Latin America.

What is the primary reason for the UK's proposed tax on tech giants?

• To ensure tech companies pay a fair share of taxes

• To increase competition among tech companies

• To align with US tax policies

• To support local tech startups

Which organization opposes the UK's tax approach and suggests coordination with the US and EU?

• US Department of Commerce

• European Union

• British Tech Association

• Tech London Advocates

How did the proposed tax affect the share prices of major tech companies?

• Share prices doubled

• Share prices fell

• Share prices increased

• Share prices remained stable

Which Asian country is highlighted for its focus on the disparity in taxes paid by foreign tech companies?

• Singapore

• South Korea

• Thailand

• India

What is a potential consequence mentioned by Malaysia's finance minister if they do not implement a digital services tax?

• Higher domestic taxes

• Increased foreign investment

• Loss of revenue

• Improved tech infrastructure