The UK has recently secured a trade deal with the US that preserves its Digital Services Tax and initiates plans for a collaborative technology partnership. The Digital Services Tax, instituted in 2020, imposes a 2% levy on large tech firms operating in the UK. Despite previous objections from the Trump administration regarding the DST's implications for American businesses, the new agreement focuses on easing export processes rather than altering tax structures, potentially boosting economic relations between the two nations.
The UK government secured a major trade deal with the US that maintains the Digital Services Tax and aims to foster a future tech partnership.
Donald Trump's administration previously accused the UK of exercising 'extraterritorial authority' over US tech business with its Digital Services Tax, viewing it as harmful.
The new trade deal focuses on simplifying trade processes instead of revising the existing Digital Services Tax, benefiting UK firms exporting to the US.
Westminster is optimistic that successful negotiations could significantly enhance UK-US trade relations and stimulate economic growth.
Collection
[
|
...
]