U.K.'s Tax on Big Tech Digital Revenue Clears Parliament

The U.K.'s House of Lords approved on Friday a new tax on the digital revenue of tech giants like Apple Inc. and Facebook Inc.

The country joins others including France, Italy, and Turkey that have passed similar measures targeting big tech. The U.S. has opposed these taxes, arguing that they unfairly target mostly U.S. companies.

• The measure, part of the the finance bill for 2019-20, now heads to the queen to be signed into law.
• The 2% levy on the U.K. digital revenue was first announced by former Chancellor Philip Hammond in October 2019. It applies from the ...