Signage is displayed outside Facebook Inc. headquarters in Menlo Park, California, U.S., on Tuesday, Oct. 30, 2018. Facebook Inc., which had warned of rising costs and slowing growth, reported quarterly revenue roughly in line with expectations and profit that beat analysts' forecasts. And despite scandals around fake news and election interference, it added more users, too. Photographer: David Paul Morris/Bloomberg
The UK just joined a growing array of countries telling Big Tech it’s time to pay up.
Britain’s Chancellor of the Exchequer, Philip Hammond, announced late Oct 29 that Britain will begin taxing the world’s biggest Internet companies in April 2020. Raising £400mil (RM2.12bil) a year, the levy affects search engines, social-media services and online marketplaces that are profitable and report annual sales of at least £500mil (RM2.65bil).
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