U.K. Draft Finance Bill Tax Proposals Target Tech Sector

A raft of new tax measures await multinational companies in the U.K.'s newly released finance package, aimed at curbing tax avoidance and tapping the revenue companies earn on digital services.

The proposals, published July 11 in the country’s draft finance bill for 2019-20, include several tax measures announced in previous budgets, that could hit the tech sector hardest.

The bill includes a digital services tax on large tech companies, limitations on the amount of capital losses that companies can offset against profits, and expanded rules for when a temporary worker can be considered a full-time employee, triggering social security taxes ...