Mon, Oct 29, 2018

Ted Keen Quoted in Yahoo Finance: UK Announces 'Groundbreaking' New 'Facebook Tax' to Raise £400m

Ted Keen, a managing director and leader of Duff & Phelps’ Transfer Pricing European practice, was quoted in a Yahoo Finance article discussing a new “Digital Services Tax” that is expected to target tech giants such as Facebook, Google and Amazon.

According to Keen, the tax is unlikely to make much difference to the companies affected. “The goal may be to target tech giants by imposing a sales tax on popular services, but in reality, the consumers of that service will bear the brunt of the tax,” says Keen. “In my view, the digital revenue tax exploits the public by framing the tax in an appealing way to voters as an attack on the huge corporations.”

Read the full article - UK announces 'groundbreaking' new 'Facebook tax' to raise £400m

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