U.K. Collects 380 Million Pounds from Digital Tax (Correct)

The U.K. brought in 380 million pounds ($483 million) of revenue from its digital services tax in 2021-2022, according to its latest statistics.

Tuesday is the first time Her Majesty’s Revenue and Customs has published how much it collected from the tax on tech giants.

• The U.S. government opposed the tax and others like it on the grounds that it mainly targets U.S. multinationals. It threatened the U.K. with retaliatory tariffs.
• In October 2021, following a global agreement to reallocate a portion of the tax revenues generated from the largest businesses in the world, the U.S. signed ...