Just Eat Fears Digital Services Tax

Saturday, 24th November 2018

The tax would affect companies that are generating more than 500 million in revenue globally. According to Credit Suisse, Just Eat is the only listed European online company that has revenues close to the threshold. The company is expected to post UK revenues of 391 million for 2018.

Just Eat derives most of its profits from the UK, and pays corporation tax that is in line with the UKs statutory rates, and it is expected that they will lobby against the tax, since they do not believe that their company is the intended target for such a tax. In the budget it was said that the tax would be structured in a way that would ensure that tech giants, rather than start-ups, shoulder the burden. He added that it is unfair that digital platforms can generate significant revenues in the UK, while avoiding paying tax within the country. The tax is intended to apply to advertising revenues, including those that search engines and social media platforms generate from users in the UK.

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